ABC Arbitrage SA Invests $2.31 Million in Infinera Co. (NASDAQ:INFN)

ABC Arbitrage SA purchased a new position in shares of Infinera Co. (NASDAQ:INFN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 351,002 shares of the communications equipment provider's stock, valued at approximately $2,306,000. ABC Arbitrage SA owned 0.15% of Infinera as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in INFN. Quantbot Technologies LP bought a new stake in shares of Infinera during the third quarter valued at approximately $40,000. Palumbo Wealth Management LLC increased its stake in Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock valued at $162,000 after purchasing an additional 1,850 shares in the last quarter. Creative Planning raised its holdings in Infinera by 87.3% during the third quarter. Creative Planning now owns 30,443 shares of the communications equipment provider's stock worth $205,000 after buying an additional 14,193 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Infinera by 20.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider's stock worth $329,000 after buying an additional 8,363 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Infinera in the third quarter valued at $354,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INFN. Rosenblatt Securities restated a "neutral" rating and issued a $6.65 target price on shares of Infinera in a report on Wednesday, November 6th. StockNews.com raised Infinera from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, B. Riley cut Infinera from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Infinera has a consensus rating of "Hold" and an average target price of $7.09.

Infinera Stock Performance

INFN stock traded up $0.02 during midday trading on Wednesday, hitting $6.68. The company's stock had a trading volume of 1,099,743 shares, compared to its average volume of 785,142. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -13.92 and a beta of 1.63. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The stock's 50-day moving average price is $6.61 and its 200 day moving average price is $6.53. Infinera Co. has a 1 year low of $4.41 and a 1 year high of $6.92.

About Infinera

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.