Wellington Management Group LLP Has $17.81 Million Stock Holdings in Infinera Co. (NASDAQ:INFN)

Wellington Management Group LLP trimmed its holdings in Infinera Co. (NASDAQ:INFN) by 39.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,637,857 shares of the communications equipment provider’s stock after selling 1,750,252 shares during the quarter. Wellington Management Group LLP’s holdings in Infinera were worth $17,806,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Infinera in the third quarter valued at about $40,000. EverSource Wealth Advisors LLC bought a new position in shares of Infinera in the second quarter valued at about $104,000. Headlands Technologies LLC bought a new position in shares of Infinera in the second quarter valued at about $112,000. Algert Global LLC bought a new position in shares of Infinera in the second quarter valued at about $128,000. Finally, Palumbo Wealth Management LLC raised its holdings in shares of Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 1,850 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

Infinera Stock Performance

Shares of INFN stock opened at $6.59 on Friday. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The stock has a market cap of $1.56 billion, a PE ratio of -13.73 and a beta of 1.67. The stock has a 50-day moving average of $6.67 and a 200-day moving average of $6.23. Infinera Co. has a one year low of $4.18 and a one year high of $6.92.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The company had revenue of $354.40 million during 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, sell-side analysts expect that Infinera Co. will post -0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INFN. StockNews.com raised Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Rosenblatt Securities reissued a “neutral” rating and set a $6.65 price objective on shares of Infinera in a report on Wednesday, November 6th. Finally, B. Riley cut Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.09.

Infinera Company 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.