Red Spruce Capital LLC Cuts Stock Holdings in Infinera Co. (NASDAQ:INFN)

Red Spruce Capital LLC trimmed its stake in Infinera Co. (NASDAQ:INFN) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,836 shares of the communications equipment provider’s stock after selling 8,218 shares during the period. Red Spruce Capital LLC’s holdings in Infinera were worth $564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quantbot Technologies LP bought a new position in shares of Infinera in the 3rd quarter worth $40,000. EverSource Wealth Advisors LLC purchased a new position in Infinera in the second quarter worth $104,000. Algert Global LLC bought a new position in Infinera in the second quarter valued at $128,000. Palumbo Wealth Management LLC raised its position in Infinera by 8.4% during the third 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 in the last quarter. Finally, Creative Planning raised its position in Infinera by 87.3% during the third 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 in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Price Performance

Shares of NASDAQ INFN opened at $6.61 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The firm’s fifty day moving average is $6.60 and its 200 day moving average is $6.44. Infinera Co. has a 52 week low of $4.41 and a 52 week high of $6.92.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The firm had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, analysts predict that Infinera Co. will post -0.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. B. Riley downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Infinera currently has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Profile

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.