EAM Global Investors LLC Invests $4.99 Million in Ciena Co. (NYSE:CIEN)

EAM Global Investors LLC bought a new stake in Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,874 shares of the communications equipment provider's stock, valued at approximately $4,993,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EAM Investors LLC purchased a new position in shares of Ciena during the 4th quarter valued at $5,389,000. Insigneo Advisory Services LLC bought a new stake in shares of Ciena during the 4th quarter valued at about $239,000. XTX Topco Ltd lifted its position in Ciena by 114.5% during the fourth quarter. XTX Topco Ltd now owns 21,831 shares of the communications equipment provider's stock valued at $1,851,000 after purchasing an additional 11,654 shares during the last quarter. Mariner LLC increased its holdings in shares of Ciena by 21.3% in the 4th quarter. Mariner LLC now owns 49,359 shares of the communications equipment provider's stock worth $4,186,000 after buying an additional 8,655 shares during the last quarter. Finally, Barclays PLC increased its stake in Ciena by 68.3% in the fourth quarter. Barclays PLC now owns 170,653 shares of the communications equipment provider's stock valued at $14,473,000 after acquiring an additional 69,236 shares during the last quarter. Institutional investors own 91.99% of the company's stock.

Analyst Ratings Changes

CIEN has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their target price on shares of Ciena from $88.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday. B. Riley restated a "buy" rating and issued a $89.00 price objective (down from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Barclays set a $100.00 target price on Ciena and gave the stock an "overweight" rating in a research report on Wednesday, March 12th. Finally, Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.69.

Ciena Price Performance

Shares of CIEN traded down $2.62 during trading hours on Monday, reaching $57.52. 227,702 shares of the stock traded hands, compared to its average volume of 2,012,773. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a 52-week low of $43.30 and a 52-week high of $101.44. The company's 50-day moving average price is $68.73 and its two-hundred day moving average price is $73.97. The company has a market cap of $8.18 billion, a P/E ratio of 100.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15.

Insider Transactions at Ciena

In other news, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the transaction, the senior vice president now owns 49,197 shares in the company, valued at approximately $4,435,601.52. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP David M. Rothenstein sold 2,500 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $68.88, for a total transaction of $172,200.00. Following the transaction, the senior vice president now directly owns 207,370 shares in the company, valued at $14,283,645.60. This trade represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,288 shares of company stock valued at $3,299,980 in the last ninety days. Corporate insiders own 0.93% of the company's stock.

Ciena Company Profile

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.