Mackenzie Financial Corp Makes New $260,000 Investment in Ciena Co. (NYSE:CIEN)

Mackenzie Financial Corp bought a new position in shares of Ciena Co. (NYSE:CIEN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,769 shares of the communications equipment provider’s stock, valued at approximately $260,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CIEN. Vanguard Group Inc. boosted its position in shares of Ciena by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 15,084,694 shares of the communications equipment provider’s stock valued at $712,903,000 after acquiring an additional 155,964 shares during the last quarter. FMR LLC boosted its position in shares of Ciena by 4.3% during the 3rd quarter. FMR LLC now owns 8,940,640 shares of the communications equipment provider’s stock valued at $422,535,000 after acquiring an additional 371,041 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Ciena by 8.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,652,822 shares of the communications equipment provider’s stock valued at $219,893,000 after acquiring an additional 366,647 shares during the last quarter. Senvest Management LLC boosted its position in shares of Ciena by 5.9% during the 3rd quarter. Senvest Management LLC now owns 2,399,382 shares of the communications equipment provider’s stock valued at $113,395,000 after acquiring an additional 132,770 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Ciena by 5.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,301,629 shares of the communications equipment provider’s stock valued at $108,775,000 after acquiring an additional 125,341 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CIEN shares. Citigroup started coverage on shares of Ciena in a research report on Friday, April 12th. They issued a “sell” rating and a $44.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Ciena from $56.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Evercore ISI upped their target price on shares of Ciena from $57.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. BNP Paribas started coverage on shares of Ciena in a research report on Thursday, April 11th. They issued an “outperform” rating and a $57.00 target price on the stock. Finally, Needham & Company LLC upped their target price on shares of Ciena from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ciena presently has an average rating of “Moderate Buy” and an average target price of $58.79.

Insider Buying and Selling

In related news, SVP Brodie Gage sold 533 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.61, for a total transaction of $26,442.13. Following the completion of the sale, the senior vice president now directly owns 41,372 shares of the company’s stock, valued at $2,052,464.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Ciena news, SVP Brodie Gage sold 533 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.61, for a total value of $26,442.13. Following the completion of the transaction, the senior vice president now owns 41,372 shares in the company, valued at $2,052,464.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph Cumello sold 3,156 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $45.74, for a total value of $144,355.44. Following the completion of the transaction, the senior vice president now owns 51,171 shares of the company’s stock, valued at approximately $2,340,561.54. The disclosure for this sale can be found here. Insiders sold a total of 107,189 shares of company stock valued at $5,754,880 over the last three months. 0.83% of the stock is currently owned by company insiders.

Ciena Stock Performance

Shares of CIEN opened at $46.61 on Monday. The stock has a 50 day moving average price of $50.68 and a 200 day moving average price of $48.22. The company has a quick ratio of 3.12, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. Ciena Co. has a 52-week low of $39.94 and a 52-week high of $63.24.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.18. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Ciena had a return on equity of 9.92% and a net margin of 5.22%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. Research analysts predict that Ciena Co. will post 1.46 EPS for the current fiscal year.

About Ciena

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.