Invictus RG Takes $388,000 Position in Ciena Co. (CIEN)

Invictus RG acquired a new position in shares of Ciena Co. (NYSE:CIEN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,435 shares of the communications equipment provider’s stock, valued at approximately $388,000.

Other large investors have also recently made changes to their positions in the company. Ibex Investors LLC bought a new position in Ciena during the 3rd quarter worth $205,000. Renaissance Technologies LLC increased its position in Ciena by 493.9% during the 3rd quarter. Renaissance Technologies LLC now owns 1,232,195 shares of the communications equipment provider’s stock worth $38,494,000 after buying an additional 1,024,721 shares during the period. Riverhead Capital Management LLC increased its position in Ciena by 34.7% during the 3rd quarter. Riverhead Capital Management LLC now owns 20,594 shares of the communications equipment provider’s stock worth $643,000 after buying an additional 5,300 shares during the period. U S Global Investors Inc increased its position in Ciena by 21.2% during the 3rd quarter. U S Global Investors Inc now owns 52,216 shares of the communications equipment provider’s stock worth $1,631,000 after buying an additional 9,119 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in Ciena by 13,911.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 200,924 shares of the communications equipment provider’s stock worth $6,277,000 after buying an additional 199,490 shares during the period.

Several research analysts have weighed in on the company. Zacks Investment Research reiterated a “hold” rating on shares of Ciena in a research report on Monday, November 12th. Needham & Company LLC cut Ciena from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. William Blair restated a “buy” rating on shares of Ciena in a research report on Friday, August 31st. Argus raised their price target on Ciena to $38.00 and gave the stock an “average” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Finally, Morgan Stanley cut Ciena from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $30.00 to $32.00 in a research report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.05.

In other Ciena news, CEO Gary B. Smith sold 9,600 shares of Ciena stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $32.47, for a total value of $311,712.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David M. Rothenstein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $31.09, for a total value of $62,180.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,875 shares of company stock worth $2,811,012. 1.38% of the stock is owned by insiders.

Ciena stock opened at $31.45 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $4.48 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.37 and a beta of 1.24. Ciena Co. has a one year low of $19.99 and a one year high of $35.04.

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Ciena Profile

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data 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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