Graham Capital Management L.P. Has $9.94 Million Holdings in Ciena Co. (NYSE:CIEN)

Graham Capital Management L.P. increased its stake in shares of Ciena Co. (NYSE:CIEN) by 16.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 117,235 shares of the communications equipment provider’s stock after acquiring an additional 16,720 shares during the period. Graham Capital Management L.P.’s holdings in Ciena were worth $9,943,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Ethic Inc. acquired a new position in Ciena during the 4th quarter worth $727,000. First Sabrepoint Capital Management LP bought a new position in shares of Ciena in the fourth quarter worth about $7,226,000. Circle Wealth Management LLC acquired a new position in shares of Ciena during the 4th quarter worth about $956,000. CoreCap Advisors LLC boosted its stake in Ciena by 171.1% during the 4th quarter. CoreCap Advisors LLC now owns 1,667 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 1,052 shares during the period. Finally, Cetera Investment Advisers grew its holdings in Ciena by 3.4% in the 4th quarter. Cetera Investment Advisers now owns 19,804 shares of the communications equipment provider’s stock valued at $1,680,000 after buying an additional 660 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Ciena

In other Ciena news, 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 transaction, the senior vice president now owns 89,258 shares in the company, valued at approximately $5,344,769.04. The trade was a 17.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $76.41, for a total value of $519,588.00. Following the sale, the chief executive officer now owns 398,549 shares in the company, valued at $30,453,129.09. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,288 shares of company stock valued at $3,211,852. 0.93% of the stock is currently owned by company insiders.

Ciena Price Performance

Ciena stock opened at $74.68 on Friday. The business has a 50 day simple moving average of $64.23 and a 200 day simple moving average of $74.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The company has a market capitalization of $10.62 billion, a PE ratio of 131.02, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. Ciena Co. has a one year low of $44.69 and a one year high of $101.44.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CIEN. Morgan Stanley reduced their price objective on Ciena from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. B. Riley reissued a “buy” rating and issued a $89.00 price target (down from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Rosenblatt Securities dropped their price objective on shares of Ciena from $73.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Barclays set a $100.00 target price on shares of Ciena and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Finally, Northland Capmk upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and an average price target of $77.62.

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.