Manchester Global Management UK Ltd Grows Position in Ciena Co. (NYSE:CIEN)

Manchester Global Management UK Ltd boosted its stake in shares of Ciena Co. (NYSE:CIEN - Free Report) by 80.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,640 shares of the communications equipment provider's stock after purchasing an additional 119,762 shares during the quarter. Ciena makes up 3.0% of Manchester Global Management UK Ltd's investment portfolio, making the stock its 15th biggest holding. Manchester Global Management UK Ltd owned approximately 0.19% of Ciena worth $22,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CIEN. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Ciena by 108.6% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock valued at $28,000 after buying an additional 296 shares during the last quarter. Bessemer Group Inc. raised its stake in Ciena by 73.7% during the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock worth $30,000 after acquiring an additional 151 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ciena by 328.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock valued at $30,000 after acquiring an additional 279 shares during the last quarter. Finally, Atlas Capital Advisors Inc. grew its holdings in shares of Ciena by 77.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CIEN. Morgan Stanley lowered their target price on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. Northland Capmk upgraded shares of Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. Needham & Company LLC decreased their target price on shares of Ciena from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Northland Securities raised Ciena from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Finally, Barclays set a $100.00 target price on Ciena and gave the company an "overweight" rating in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $77.62.

Ciena Price Performance

Ciena stock traded up $1.71 during mid-day trading on Friday, reaching $66.00. The company had a trading volume of 1,600,990 shares, compared to its average volume of 2,013,239. The stock's 50-day simple moving average is $66.02 and its 200-day simple moving average is $73.74. Ciena Co. has a 1 year low of $44.69 and a 1 year high of $101.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The company has a market capitalization of $9.38 billion, a P/E ratio of 115.79, a P/E/G ratio of 1.54 and a beta of 1.15.

Insider Activity at Ciena

In other news, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the transaction, the senior vice president now directly owns 49,197 shares of the company's stock, valued at $4,435,601.52. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $76.41, for a total value of $519,588.00. Following the completion of the sale, the chief executive officer now directly owns 398,549 shares in the company, valued at approximately $30,453,129.09. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,288 shares of company stock valued at $3,299,980 in the last ninety days. Corporate insiders own 0.93% of the company's stock.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.