Alpine Associates Management Inc. Decreases Stake in Infinera Co. (NASDAQ:INFN)

Alpine Associates Management Inc. reduced its stake in Infinera Co. (NASDAQ:INFN) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,984,500 shares of the communications equipment provider’s stock after selling 54,200 shares during the period. Alpine Associates Management Inc.’s holdings in Infinera were worth $13,955,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of INFN. Creative Planning increased its stake in Infinera by 87.3% in the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock worth $205,000 after purchasing an additional 14,193 shares during the period. Intech Investment Management LLC purchased a new position in shares of Infinera during the third quarter valued at approximately $354,000. Charles Schwab Investment Management Inc. increased its stake in shares of Infinera by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock valued at $11,467,000 after buying an additional 39,917 shares during the period. Citigroup Inc. increased its stake in shares of Infinera by 2,104.8% during the third quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock valued at $19,676,000 after buying an additional 2,782,789 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Infinera during the third quarter valued at approximately $40,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Price Performance

INFN opened at $6.64 on Friday. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. Infinera Co. has a 52-week low of $4.41 and a 52-week high of $6.92. The stock has a market capitalization of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. The stock’s 50 day moving average price is $6.62 and its 200-day moving average price is $6.60.

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

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.