OZ Management LP Invests $2.88 Million in Infinera Corp. (INFN)

OZ Management LP acquired a new position in Infinera Corp. (NASDAQ:INFN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 395,000 shares of the communications equipment provider’s stock, valued at approximately $2,884,000. OZ Management LP owned 0.23% of Infinera as of its most recent SEC filing.

Several other large investors have also modified their holdings of INFN. Bank of New York Mellon Corp lifted its stake in shares of Infinera by 10.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock worth $137,084,000 after purchasing an additional 1,265,072 shares during the period. BlackRock Inc. lifted its stake in shares of Infinera by 12.5% in the 2nd quarter. BlackRock Inc. now owns 10,961,436 shares of the communications equipment provider’s stock worth $108,849,000 after purchasing an additional 1,222,230 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Infinera by 338.7% in the 3rd quarter. Renaissance Technologies LLC now owns 1,299,086 shares of the communications equipment provider’s stock worth $9,483,000 after purchasing an additional 1,002,934 shares during the period. FMR LLC lifted its stake in shares of Infinera by 3.3% in the 3rd quarter. FMR LLC now owns 23,100,000 shares of the communications equipment provider’s stock worth $168,630,000 after purchasing an additional 742,901 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Infinera by 335.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 928,023 shares of the communications equipment provider’s stock worth $6,775,000 after purchasing an additional 714,799 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Several brokerages have recently weighed in on INFN. BidaskClub upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Zacks Investment Research cut shares of Infinera from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Morgan Stanley began coverage on shares of Infinera in a research note on Tuesday, September 25th. They issued an “overweight” rating and a $9.50 price objective on the stock. Stifel Nicolaus began coverage on shares of Infinera in a research note on Monday, October 22nd. They issued a “hold” rating and a $8.00 price objective on the stock. Finally, Piper Jaffray Companies lowered their price objective on shares of Infinera to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 7th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.13.

NASDAQ INFN opened at $4.41 on Wednesday. Infinera Corp. has a 12 month low of $4.11 and a 12 month high of $12.39. The company has a market cap of $754.19 million, a price-to-earnings ratio of -5.31 and a beta of 0.51. The company has a current ratio of 3.92, a quick ratio of 2.95 and a debt-to-equity ratio of 0.37.

Infinera (NASDAQ:INFN) last released its earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Infinera had a negative net margin of 19.18% and a negative return on equity of 11.58%. The company had revenue of $200.41 million for the quarter, compared to analysts’ expectations of $210.57 million. During the same quarter last year, the business earned ($0.11) EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, analysts expect that Infinera Corp. will post -0.69 earnings per share for the current year.

In related news, COO David W. Heard acquired 20,000 shares of Infinera stock in a transaction dated Friday, November 9th. The shares were purchased at an average price of $4.74 per share, for a total transaction of $94,800.00. Following the completion of the transaction, the chief operating officer now directly owns 44,532 shares in the company, valued at approximately $211,081.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert J. Jandro acquired 40,000 shares of Infinera stock in a transaction dated Friday, November 30th. The shares were bought at an average price of $4.24 per share, for a total transaction of $169,600.00. Following the transaction, the vice president now owns 179,061 shares of the company’s stock, valued at $759,218.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 150,000 shares of company stock worth $675,900. 3.00% of the stock is owned by company insiders.

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Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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Institutional Ownership by Quarter for Infinera (NASDAQ:INFN)

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