WINTON GROUP Ltd Has $8.83 Million Position in Ciena Co. (NYSE:CIEN)

WINTON GROUP Ltd increased its position in shares of Ciena Co. (NYSE:CIEN) by 242.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 104,167 shares of the communications equipment provider’s stock after purchasing an additional 73,741 shares during the quarter. Ciena comprises 0.6% of WINTON GROUP Ltd’s holdings, making the stock its 29th biggest position. WINTON GROUP Ltd’s holdings in Ciena were worth $8,834,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Ciena by 925.0% during the 4th 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. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Ciena by 328.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 279 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Ciena during the fourth quarter worth about $41,000. Parkside Financial Bank & Trust boosted its holdings in Ciena by 409.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock valued at $44,000 after purchasing an additional 418 shares in the last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Ciena in the 4th quarter valued at approximately $59,000. 91.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CIEN has been the subject of several analyst reports. Northland Capmk upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Barclays set a $100.00 price objective on Ciena and gave the company an “overweight” rating in a report on Wednesday, March 12th. Rosenblatt Securities lowered their target price on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $95.00 in a report on Friday, December 13th. Finally, Citigroup upped their price objective on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.38.

Insider Transactions at Ciena

In other Ciena news, SVP David M. Rothenstein sold 2,500 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $68.88, for a total transaction of $172,200.00. Following the completion of the sale, the senior vice president now directly owns 207,370 shares of the company’s stock, valued at approximately $14,283,645.60. The trade was a 1.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce L. Claflin sold 16,912 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the transaction, the director now owns 59,347 shares in the company, valued at approximately $5,042,121.12. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,560 shares of company stock worth $5,406,323 over the last 90 days. 0.93% of the stock is owned by insiders.

Ciena Stock Down 5.2 %

NYSE:CIEN opened at $65.81 on Thursday. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 115.46, a P/E/G ratio of 1.54 and a beta of 0.91. 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 stock’s fifty day moving average price is $79.64 and its two-hundred day moving average price is $73.93. Ciena Co. has a 52-week low of $43.30 and a 52-week high of $101.44.

About Ciena

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.