Sciencast Management LP Takes Position in Ciena Co. (NYSE:CIEN)

Sciencast Management LP acquired a new position in shares of Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,336 shares of the communications equipment provider's stock, valued at approximately $2,149,000.

A number of other hedge funds have also recently bought and sold shares of the company. Greenleaf Trust lifted its stake in shares of Ciena by 2.8% during the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider's stock valued at $422,000 after acquiring an additional 136 shares during the period. US Bancorp DE raised its holdings in Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock worth $887,000 after purchasing an additional 152 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Ciena by 3.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider's stock valued at $292,000 after purchasing an additional 175 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Ciena by 0.7% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,897 shares of the communications equipment provider's stock valued at $2,705,000 after purchasing an additional 220 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Ciena by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider's stock valued at $379,000 after purchasing an additional 226 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors.

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Ciena Stock Down 5.2 %

Shares of NYSE:CIEN traded down $3.61 during midday trading on Wednesday, reaching $65.81. 2,278,942 shares of the company were exchanged, compared to its average volume of 1,910,429. The firm has a market cap of $9.35 billion, a PE ratio of 115.46, a P/E/G ratio of 1.54 and a beta of 0.91. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. Ciena Co. has a fifty-two week low of $43.30 and a fifty-two week high of $101.44. The stock has a fifty day simple moving average of $80.04 and a two-hundred day simple moving average of $73.98.

Wall Street Analyst Weigh In

CIEN has been the topic of several analyst reports. Citigroup increased their price objective on shares of Ciena from $84.00 to $98.00 and gave the company a "buy" rating in a report on Friday, December 13th. Barclays set a $100.00 price target on Ciena and gave the stock an "overweight" rating in a research report on Wednesday, March 12th. Rosenblatt Securities dropped their price objective on Ciena from $94.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Northland Capmk raised Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus restated a "buy" rating and set a $82.00 target price (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ciena presently has an average rating of "Moderate Buy" and an average price target of $81.38.

Insider Activity

In related news, SVP David M. Rothenstein sold 2,500 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $68.88, for a total value of $172,200.00. Following the completion of the transaction, the senior vice president now owns 207,370 shares of the company's stock, valued at approximately $14,283,645.60. This trade represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brodie Gage sold 350 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the sale, the senior vice president now directly owns 49,547 shares in the company, valued at $4,256,582.77. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,242 shares of company stock worth $5,641,373 over the last three months. Corporate insiders own 0.93% of the company's stock.

Ciena 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.