Alpine Associates Management Inc. Sells 54,200 Shares of Infinera Co. (NASDAQ:INFN)

Alpine Associates Management Inc. lessened its holdings in shares of Infinera Co. (NASDAQ:INFN) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,984,500 shares of the communications equipment provider’s stock after selling 54,200 shares during the quarter. Alpine Associates Management Inc. owned about 0.84% of Infinera worth $13,955,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of INFN. Quantbot Technologies LP bought a new stake in shares of Infinera during the 3rd quarter valued at about $40,000. Creative Planning boosted its position in shares of Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after acquiring an additional 14,193 shares during the last quarter. Palumbo Wealth Management LLC boosted its position in shares of Infinera by 41.5% during the 4th quarter. Palumbo Wealth Management LLC now owns 33,883 shares of the communications equipment provider’s stock valued at $223,000 after acquiring an additional 9,929 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Infinera by 20.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after acquiring an additional 8,363 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Infinera in the 3rd quarter worth approximately $354,000. Institutional investors own 97.54% of the company’s stock.

Infinera Stock Performance

NASDAQ:INFN opened at $6.64 on Friday. The business has a 50 day moving average of $6.62 and a 200 day moving average of $6.60. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. Infinera Co. has a 1-year low of $4.41 and a 1-year high of $6.92. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97.

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

About Infinera

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.