11,537 Shares in Ciena Co. (NYSE:CIEN) Bought by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC acquired a new position in Ciena Co. (NYSE:CIEN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,537 shares of the communications equipment provider’s stock, valued at approximately $458,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Keybank National Association OH boosted its position in Ciena by 1.8% during the second quarter. Keybank National Association OH now owns 10,284 shares of the communications equipment provider’s stock valued at $557,000 after acquiring an additional 177 shares during the last quarter. Campbell Newman Asset Management Inc. boosted its position in Ciena by 0.9% during the second quarter. Campbell Newman Asset Management Inc. now owns 21,350 shares of the communications equipment provider’s stock valued at $1,156,000 after acquiring an additional 198 shares during the last quarter. Mesirow Financial Investment Management Equity Management boosted its position in Ciena by 0.6% during the second quarter. Mesirow Financial Investment Management Equity Management now owns 33,930 shares of the communications equipment provider’s stock valued at $1,838,000 after acquiring an additional 200 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Ciena by 64.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 562 shares of the communications equipment provider’s stock valued at $30,000 after acquiring an additional 220 shares during the last quarter. Finally, CSat Investment Advisory L.P. boosted its position in Ciena by 47.0% during the second quarter. CSat Investment Advisory L.P. now owns 744 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 238 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP David M. Rothenstein sold 2,500 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $60.44, for a total transaction of $151,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick H. Nettles sold 20,000 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $54.16, for a total transaction of $1,083,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 104,845 shares of company stock valued at $5,675,127 over the last three months. Insiders own 1.20% of the company’s stock.

A number of equities analysts have recently issued reports on CIEN shares. B. Riley cut their price objective on shares of Ciena from $50.00 to $46.00 in a research report on Friday, September 4th. Morgan Stanley cut their price objective on shares of Ciena from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 4th. MKM Partners cut their price objective on shares of Ciena from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, September 4th. Vertical Group started coverage on shares of Ciena in a research report on Wednesday. They set a “neutral” rating on the stock. Finally, ValuEngine cut shares of Ciena from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $53.62.

NYSE:CIEN opened at $41.81 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.06 and a current ratio of 3.56. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89. Ciena Co. has a 52 week low of $30.58 and a 52 week high of $61.51. The firm has a 50-day moving average price of $43.66 and a two-hundred day moving average price of $50.21.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, September 3rd. The communications equipment provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.23. The firm had revenue of $976.70 million during the quarter, compared to analyst estimates of $974.49 million. Ciena had a net margin of 10.26% and a return on equity of 17.93%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. As a group, sell-side analysts forecast that Ciena Co. will post 2.62 earnings per share for the current year.

Ciena Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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