Mariner LLC Has $4.19 Million Stock Holdings in Ciena Co. (NYSE:CIEN)

Mariner LLC raised its position in shares of Ciena Co. (NYSE:CIEN - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,359 shares of the communications equipment provider's stock after purchasing an additional 8,655 shares during the quarter. Mariner LLC's holdings in Ciena were worth $4,186,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CIEN. Barclays PLC lifted its holdings in shares of Ciena by 68.3% during the fourth quarter. Barclays PLC now owns 170,653 shares of the communications equipment provider's stock valued at $14,473,000 after purchasing an additional 69,236 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Ciena by 17.1% in the fourth quarter. Sterling Capital Management LLC now owns 18,698 shares of the communications equipment provider's stock worth $1,586,000 after buying an additional 2,731 shares during the period. Jaffetilchin Investment Partners LLC increased its position in shares of Ciena by 6.4% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 3,711 shares of the communications equipment provider's stock worth $315,000 after acquiring an additional 222 shares in the last quarter. Paralel Advisors LLC raised its holdings in shares of Ciena by 10.0% during the fourth quarter. Paralel Advisors LLC now owns 50,884 shares of the communications equipment provider's stock valued at $4,315,000 after acquiring an additional 4,624 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Ciena by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 63,289 shares of the communications equipment provider's stock valued at $5,368,000 after acquiring an additional 400 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Up 1.0 %

Shares of CIEN traded up $0.64 during trading hours on Friday, hitting $64.93. 340,285 shares of the company were exchanged, compared to its average volume of 2,509,567. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. The company has a market cap of $9.23 billion, a PE ratio of 113.91, a PEG ratio of 1.54 and a beta of 1.15. The firm's 50 day moving average is $66.49 and its 200-day moving average is $73.73. Ciena Co. has a 52 week low of $44.69 and a 52 week high of $101.44.

Wall Street Analysts Forecast Growth

CIEN has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Ciena from $88.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Morgan Stanley decreased their price objective on Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Rosenblatt Securities dropped their target price on Ciena from $73.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday. Needham & Company LLC lowered their price objective on shares of Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, Northland Securities upgraded shares of Ciena from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $77.62.

Insider Buying and Selling

In other Ciena news, SVP David M. Rothenstein sold 2,500 shares of Ciena stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the transaction, the senior vice president now directly owns 207,370 shares of the company's stock, valued at $14,283,645.60. The trade was a 1.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $59.54, for a total value of $404,872.00. Following the completion of the sale, the chief executive officer now directly owns 375,680 shares of the company's stock, valued at $22,367,987.20. This represents a 1.78 % 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 worth $3,299,980. 0.93% of the stock is currently owned by insiders.

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.