8,560,095 Shares in Infinera Co. (NASDAQ:INFN) Bought by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in shares of Infinera Co. (NASDAQ:INFN) in the fourth quarter, HoldingsChannel reports. The fund acquired 8,560,095 shares of the communications equipment provider’s stock, valued at approximately $56,240,000. Infinera accounts for 1.3% of Magnetar Financial LLC’s holdings, making the stock its 21st biggest holding.

Other institutional investors have also made changes to their positions in the company. Sand Grove Capital Management LLP acquired a new stake in shares of Infinera during the third quarter worth $12,517,000. Janus Henderson Group PLC raised its position in shares of Infinera by 332.0% during the third quarter. Janus Henderson Group PLC now owns 350,520 shares of the communications equipment provider’s stock worth $2,364,000 after purchasing an additional 269,372 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Infinera by 20.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after purchasing an additional 8,363 shares in the last quarter. SG Americas Securities LLC increased its stake in Infinera by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider’s stock worth $637,000 after purchasing an additional 14,595 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Infinera by 33.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 114,994 shares of the communications equipment provider’s stock worth $776,000 after purchasing an additional 29,083 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Infinera in a report on Thursday. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

NASDAQ INFN opened at $6.64 on Thursday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. The stock’s 50 day moving average price is $6.63 and its two-hundred day moving average price is $6.63. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. Infinera Co. has a 52 week low of $4.49 and a 52 week high of $6.92.

Infinera (NASDAQ:INFN) last released its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.15). The firm had revenue of $414.39 million during the quarter, compared to the consensus estimate of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, analysts anticipate that Infinera Co. will post -0.33 earnings per share for the current fiscal year.

Infinera 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.