Wellington Management Group LLP Has $17.81 Million Stock Position in Infinera Co. (NASDAQ:INFN)

Wellington Management Group LLP lessened its stake in shares of Infinera Co. (NASDAQ:INFN - Free Report) by 39.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,637,857 shares of the communications equipment provider's stock after selling 1,750,252 shares during the period. Wellington Management Group LLP owned 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 the company. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Infinera by 22.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider's stock valued at $67,343,000 after buying an additional 2,025,658 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of Infinera by 14.2% in the second quarter. Hood River Capital Management LLC now owns 4,753,842 shares of the communications equipment provider's stock valued at $28,951,000 after purchasing an additional 591,611 shares during the last quarter. AIGH Capital Management LLC grew its position in shares of Infinera by 278.8% in the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider's stock valued at $20,515,000 after purchasing an additional 2,479,272 shares during the last quarter. Citigroup Inc. increased its stake in shares of Infinera by 2,104.8% in the third quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider's stock worth $19,676,000 after purchasing an additional 2,782,789 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Infinera by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider's stock worth $16,802,000 after purchasing an additional 748,155 shares during the last quarter. Institutional investors own 97.54% of the company's stock.

Infinera Price Performance

Shares of INFN stock traded up $0.01 during mid-day trading on Friday, reaching $6.59. The company's stock had a trading volume of 1,187,793 shares, compared to its average volume of 4,619,000. The firm's 50-day moving average is $6.67 and its two-hundred day moving average is $6.23. The company has a market cap of $1.56 billion, a P/E ratio of -13.73 and a beta of 1.67. Infinera Co. has a 1-year low of $4.18 and a 1-year high of $6.92. 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 (NASDAQ:INFN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million during the quarter, compared to analyst estimates of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, research analysts predict that Infinera Co. will post -0.25 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on INFN. B. Riley lowered Infinera from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Rosenblatt Securities reiterated a "neutral" rating and set a $6.65 target price on shares of Infinera in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Infinera from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.