Ciena Co. (NYSE:CIEN) Shares Acquired by Manchester Global Management UK Ltd

Manchester Global Management UK Ltd grew its position in shares of Ciena Co. (NYSE:CIEN - Free Report) by 80.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,640 shares of the communications equipment provider's stock after purchasing an additional 119,762 shares during the quarter. Ciena makes up about 3.0% of Manchester Global Management UK Ltd's portfolio, making the stock its 15th biggest holding. Manchester Global Management UK Ltd owned 0.19% of Ciena worth $22,783,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC grew its holdings in Ciena by 75.8% in the third quarter. Sanctuary Advisors LLC now owns 8,315 shares of the communications equipment provider's stock valued at $512,000 after purchasing an additional 3,584 shares during the period. Retirement Systems of Alabama grew its stake in Ciena by 4.8% in the 3rd quarter. Retirement Systems of Alabama now owns 403,490 shares of the communications equipment provider's stock valued at $24,851,000 after acquiring an additional 18,426 shares during the period. Versant Capital Management Inc raised its position in Ciena by 925.0% during the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after acquiring an additional 296 shares during the period. GAMMA Investing LLC lifted its holdings in Ciena by 27.7% during the fourth quarter. GAMMA Investing LLC now owns 2,109 shares of the communications equipment provider's stock valued at $179,000 after purchasing an additional 458 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Ciena in the fourth quarter valued at about $235,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Trading Up 2.7 %

CIEN stock traded up $1.71 during midday trading on Friday, hitting $66.00. 1,600,990 shares of the company's stock were exchanged, compared to its average volume of 2,015,456. Ciena Co. has a 1-year low of $44.69 and a 1-year high of $101.44. The business has a 50-day simple moving average of $66.02 and a two-hundred day simple moving average of $73.78. The stock has a market capitalization of $9.38 billion, a PE ratio of 115.79, a P/E/G ratio of 1.54 and a beta of 1.15. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling

In related news, SVP Jason Phipps sold 18,888 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $59.88, for a total value of $1,131,013.44. Following the sale, the senior vice president now owns 89,258 shares in the company, valued at approximately $5,344,769.04. The trade was a 17.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total value of $31,556.00. Following the completion of the transaction, the senior vice president now directly owns 49,197 shares of the company's stock, valued at approximately $4,435,601.52. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,288 shares of company stock valued at $3,299,980. 0.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Rosenblatt Securities decreased their price target on shares of Ciena from $73.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley lowered their price target on Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Northland Capmk raised Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered 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, April 17th. Finally, Citigroup dropped their target price on shares of Ciena from $98.00 to $75.00 and set a "buy" rating for the company in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.62.

Ciena 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.