Gladstone Capital Management LLP Buys New Holdings in Ciena Co. (NYSE:CIEN)

Gladstone Capital Management LLP purchased a new position in shares of Ciena Co. (NYSE:CIEN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 27,100 shares of the communications equipment provider’s stock, valued at approximately $2,298,000. Ciena comprises approximately 0.2% of Gladstone Capital Management LLP’s portfolio, making the stock its 19th biggest holding.

A number of other large investors have also bought and sold shares of CIEN. Hel Ved Capital Management Ltd purchased a new position in shares of Ciena in the fourth quarter worth $4,079,000. Alpine Investment Management Ltd bought a new stake in Ciena in the 4th quarter worth $12,722,000. Prudential PLC bought a new position in shares of Ciena during the fourth quarter valued at about $427,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Ciena by 108.6% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 151 shares during the period. Finally, Atlas Capital Advisors Inc. boosted its holdings in shares of Ciena by 77.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 183 shares during the period. 91.99% of the stock is owned by hedge funds and other institutional investors.

Ciena Trading Down 4.7 %

Ciena stock opened at $53.53 on Friday. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 93.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The business’s fifty day simple moving average is $75.40 and its two-hundred day simple moving average is $74.08. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.

Analyst Ratings Changes

A number of research firms have commented on CIEN. JPMorgan Chase & Co. raised Ciena from a “neutral” rating to an “overweight” rating and upped their price target for the company from $84.00 to $88.00 in a research report on Tuesday, January 28th. Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Northland Capmk upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Citigroup raised their target price on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, B. Riley reissued a “buy” rating and issued a $89.00 price target (down from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ciena currently has a consensus rating of “Moderate Buy” and an average price target of $81.38.

Insider Buying and Selling

In related news, Director Bruce L. Claflin sold 16,912 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $84.96, for a total value of $1,436,843.52. Following the transaction, the director now directly owns 59,347 shares of the company’s stock, valued at approximately $5,042,121.12. This represents a 22.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Phipps sold 18,888 shares of Ciena 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 completion of the sale, the senior vice president now directly owns 89,258 shares of the company’s stock, valued at approximately $5,344,769.04. The trade was a 17.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,200 shares of company stock worth $4,921,513 in the last quarter. Corporate insiders own 0.93% of the company’s stock.

Ciena Company 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.