Infinera Co. (NASDAQ:INFN) Shares Acquired by Yakira Capital Management Inc.

Yakira Capital Management Inc. boosted its position in shares of Infinera Co. (NASDAQ:INFN) by 115.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,785 shares of the communications equipment provider’s stock after purchasing an additional 68,385 shares during the period. Yakira Capital Management Inc. owned approximately 0.05% of Infinera worth $840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INFN. Russell Investments Group Ltd. grew its stake in shares of Infinera by 1.9% during the fourth quarter. Russell Investments Group Ltd. now owns 110,687 shares of the communications equipment provider’s stock valued at $727,000 after acquiring an additional 2,097 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Infinera in the fourth quarter valued at about $1,241,000. Wells Fargo & Company MN grew its stake in Infinera by 46.0% during the 4th quarter. Wells Fargo & Company MN now owns 159,091 shares of the communications equipment provider’s stock valued at $1,045,000 after purchasing an additional 50,148 shares in the last quarter. Wellington Management Group LLP increased its holdings in Infinera by 2.0% during the 4th quarter. Wellington Management Group LLP now owns 2,690,238 shares of the communications equipment provider’s stock worth $17,675,000 after purchasing an additional 52,381 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Infinera in the 4th quarter valued at approximately $1,200,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Infinera in a research report on Saturday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Performance

INFN stock opened at $6.64 on Friday. The stock’s 50 day simple moving average is $6.64 and its 200 day simple moving average is $6.65. Infinera Co. has a 12-month low of $4.49 and a 12-month high of $6.92. The firm has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last issued its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The business had revenue of $414.39 million for the quarter, compared to analyst estimates of $409.08 million. As a group, equities research analysts predict that Infinera Co. will post -0.33 EPS for the current year.

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.