ABC Arbitrage SA Acquires Shares of 351,002 Infinera Co. (NASDAQ:INFN)

ABC Arbitrage SA acquired a new stake in shares of Infinera Co. (NASDAQ:INFN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 351,002 shares of the communications equipment provider’s stock, valued at approximately $2,306,000. ABC Arbitrage SA owned about 0.15% of Infinera as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in INFN. Quantbot Technologies LP bought a new position in shares of Infinera during the 3rd quarter valued at about $40,000. Palumbo Wealth Management LLC boosted its holdings in shares of Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares during the last quarter. Creative Planning boosted its holdings in shares of Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after purchasing an additional 14,193 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Infinera by 20.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after purchasing an additional 8,363 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Infinera during the 3rd quarter valued at about $354,000. Institutional investors own 97.54% of the company’s stock.

Wall Street Analyst Weigh In

INFN has been the topic of several recent research reports. B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Rosenblatt Securities restated a “neutral” rating and set a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Price Performance

Infinera stock opened at $6.65 on Friday. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. Infinera Co. has a 1-year low of $4.41 and a 1-year high of $6.92. The company’s 50-day moving average is $6.60 and its 200 day moving average is $6.51.

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.