Wellington Management Group LLP Sells 1,750,252 Shares of Infinera Co. (NASDAQ:INFN)

Wellington Management Group LLP decreased its position in Infinera Co. (NASDAQ:INFN) by 39.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,637,857 shares of the communications equipment provider’s stock after selling 1,750,252 shares during the quarter. Wellington Management Group LLP owned approximately 1.11% of Infinera worth $17,806,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INFN. Quantbot Technologies LP bought a new position in shares of Infinera in the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC bought a new position in shares of Infinera in the second quarter valued at approximately $104,000. Headlands Technologies LLC bought a new position in shares of Infinera in the second quarter valued at approximately $112,000. Algert Global LLC bought a new position in shares of Infinera in the second quarter valued at approximately $128,000. Finally, Palumbo Wealth Management LLC grew its stake in shares of Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

Infinera Stock Up 0.2 %

INFN opened at $6.59 on Friday. Infinera Co. has a fifty-two week low of $4.18 and a fifty-two week high of $6.92. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The firm’s fifty day moving average price is $6.67 and its two-hundred day moving average price is $6.23. The company has a market capitalization of $1.56 billion, a P/E ratio of -13.73 and a beta of 1.67.

Infinera (NASDAQ:INFN) last issued its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The firm had revenue of $354.40 million during the quarter, compared to analyst estimates of $401.96 million. On average, analysts anticipate that Infinera Co. will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

INFN has been the topic of several research analyst reports. Rosenblatt Securities restated a “neutral” rating and issued a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, B. Riley downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.09.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.