Pacer Advisors Inc. Buys 9,362 Shares of Ciena Co. (NYSE:CIEN)

Pacer Advisors Inc. boosted its stake in shares of Ciena Co. (NYSE:CIENFree Report) by 64.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,954 shares of the communications equipment provider’s stock after purchasing an additional 9,362 shares during the period. Pacer Advisors Inc.’s holdings in Ciena were worth $1,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CIEN. Farther Finance Advisors LLC lifted its position in Ciena by 63.9% during the second quarter. Farther Finance Advisors LLC now owns 849 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 331 shares during the period. Sunbelt Securities Inc. purchased a new stake in Ciena during the first quarter valued at approximately $59,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Ciena during the third quarter valued at approximately $101,000. State of Wyoming increased its holdings in Ciena by 35.4% during the fourth quarter. State of Wyoming now owns 2,450 shares of the communications equipment provider’s stock valued at $125,000 after buying an additional 640 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in Ciena by 74.7% during the third quarter. CENTRAL TRUST Co now owns 3,274 shares of the communications equipment provider’s stock valued at $133,000 after buying an additional 1,400 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling at Ciena

In other Ciena news, CEO Gary B. Smith sold 4,166 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $50.56, for a total value of $210,632.96. Following the transaction, the chief executive officer now owns 494,844 shares of the company’s stock, valued at approximately $25,019,312.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ciena news, CEO Gary B. Smith sold 4,166 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $50.56, for a total value of $210,632.96. Following the transaction, the chief executive officer now owns 494,844 shares of the company’s stock, valued at approximately $25,019,312.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David M. Rothenstein sold 3,500 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $49.72, for a total value of $174,020.00. Following the completion of the transaction, the senior vice president now directly owns 237,001 shares in the company, valued at approximately $11,783,689.72. The disclosure for this sale can be found here. Insiders have sold 102,834 shares of company stock valued at $5,576,340 in the last quarter. 0.83% of the stock is owned by insiders.

Ciena Stock Performance

NYSE:CIEN opened at $48.60 on Wednesday. The stock’s fifty day moving average is $53.79 and its 200 day moving average is $48.28. Ciena Co. has a fifty-two week low of $39.94 and a fifty-two week high of $63.24. The firm has a market capitalization of $7.03 billion, a PE ratio of 31.56, a PEG ratio of 2.07 and a beta of 0.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.12 and a current ratio of 4.29.

Ciena (NYSE:CIENGet Free Report) last released its quarterly earnings results on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.18. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Ciena had a return on equity of 9.92% and a net margin of 5.22%. Ciena’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, sell-side analysts anticipate that Ciena Co. will post 1.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $65.00 target price on shares of Ciena in a report on Friday, December 8th. Raymond James reduced their target price on shares of Ciena from $63.00 to $60.00 and set a “strong-buy” rating for the company in a report on Friday, December 8th. StockNews.com raised shares of Ciena from a “sell” rating to a “hold” rating in a research note on Friday, March 8th. B. Riley upped their price target on Ciena from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. Finally, Barclays upped their price target on Ciena from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, December 8th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and an average price target of $60.17.

Read Our Latest Research Report on Ciena

Ciena Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.