Cavalry Management Group LLC Grows Position in Ciena Co. (CIEN)

Cavalry Management Group LLC lifted its position in shares of Ciena Co. (NYSE:CIEN) by 48.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,087,875 shares of the communications equipment provider’s stock after purchasing an additional 356,042 shares during the quarter. Ciena comprises 8.6% of Cavalry Management Group LLC’s investment portfolio, making the stock its 3rd biggest holding. Cavalry Management Group LLC owned approximately 0.70% of Ciena worth $36,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CIEN. Oregon Public Employees Retirement Fund boosted its position in shares of Ciena by 3,337.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,908,421 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 1,852,903 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Ciena by 52.0% during the third quarter. Alliancebernstein L.P. now owns 4,588,525 shares of the communications equipment provider’s stock valued at $143,346,000 after purchasing an additional 1,568,877 shares in the last quarter. BlackRock Inc. boosted its position in shares of Ciena by 9.6% during the fourth quarter. BlackRock Inc. now owns 17,899,503 shares of the communications equipment provider’s stock valued at $606,974,000 after purchasing an additional 1,561,445 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Ciena by 493.9% during the third quarter. Renaissance Technologies LLC now owns 1,232,195 shares of the communications equipment provider’s stock valued at $38,494,000 after purchasing an additional 1,024,721 shares in the last quarter. Finally, Sadoff Investment Management LLC bought a new stake in shares of Ciena during the fourth quarter valued at approximately $31,984,000. Institutional investors own 92.44% of the company’s stock.

In other news, VP James Frodsham sold 41,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $39.69, for a total value of $1,627,290.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott Mcfeely sold 1,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $39.97, for a total value of $39,970.00. The disclosure for this sale can be found here. Insiders sold 173,187 shares of company stock valued at $6,750,087 in the last 90 days. Company insiders own 1.20% of the company’s stock.

CIEN stock opened at $39.43 on Friday. Ciena Co. has a 1-year low of $22.99 and a 1-year high of $45.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.98 and a quick ratio of 2.52. The firm has a market capitalization of $6.12 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Tuesday, March 5th. The communications equipment provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The firm had revenue of $778.53 million during the quarter, compared to analysts’ expectations of $761.62 million. During the same quarter in the previous year, the business earned $0.15 earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. As a group, research analysts anticipate that Ciena Co. will post 1.52 EPS for the current fiscal year.

Several research firms recently weighed in on CIEN. TheStreet lowered Ciena from a “b” rating to a “c+” rating in a research report on Friday, December 14th. Zacks Investment Research raised Ciena from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, December 11th. MKM Partners boosted their target price on Ciena from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 14th. Northland Securities set a $32.00 target price on Ciena and gave the stock a “buy” rating in a report on Thursday, December 20th. Finally, Dougherty & Co boosted their target price on Ciena from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Ten analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Ciena presently has a consensus rating of “Buy” and a consensus target price of $41.83.

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Ciena Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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