Bardin Hill Management Partners LP Invests $1.58 Million in Infinera Co. (NASDAQ:INFN)

Bardin Hill Management Partners LP bought a new position in shares of Infinera Co. (NASDAQ:INFN) during the 3rd quarter, HoldingsChannel reports. The firm bought 233,416 shares of the communications equipment provider’s stock, valued at approximately $1,576,000. Infinera makes up about 0.7% of Bardin Hill Management Partners LP’s investment portfolio, making the stock its 22nd largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Boussard & Gavaudan Investment Management LLP grew its stake in shares of Infinera by 3,666.0% during the third quarter. Boussard & Gavaudan Investment Management LLP now owns 188,298 shares of the communications equipment provider’s stock worth $1,253,000 after acquiring an additional 183,298 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Infinera by 33.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 114,994 shares of the communications equipment provider’s stock worth $776,000 after purchasing an additional 29,083 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Infinera during the 3rd quarter worth approximately $40,000. Citigroup Inc. increased its stake in Infinera by 2,104.8% during the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock valued at $19,676,000 after purchasing an additional 2,782,789 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Infinera by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock worth $11,467,000 after buying an additional 39,917 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INFN shares. StockNews.com raised Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Berenberg Bank upgraded Infinera to a “hold” rating in a research note on Monday, August 5th. B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.09.

Infinera Price Performance

Shares of INFN stock opened at $6.61 on Monday. Infinera Co. has a twelve month low of $3.79 and a twelve month high of $6.92. The stock has a market cap of $1.57 billion, a P/E ratio of -13.77 and a beta of 1.71. The stock has a 50 day moving average of $6.71 and a 200 day moving average of $6.15. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last posted its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The firm had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $401.96 million. As a group, sell-side analysts expect that Infinera Co. will post -0.25 EPS for the current year.

About Infinera

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.