Belpointe Asset Management LLC Makes New Investment in Infinera Co. (NASDAQ:INFN)

Belpointe Asset Management LLC bought a new position in shares of Infinera Co. (NASDAQ:INFN – Get Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,500 shares of the communications equipment provider’s stock, valued at approximately $57,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its holdings in Infinera by 54.1% during the third quarter. Rockefeller Capital Management L.P. now owns 6,304 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 2,212 shares in the last quarter. Eagle Bay Advisors LLC raised its stake in shares of Infinera by 200.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 7,841 shares of the communications equipment provider’s stock valued at $53,000 after purchasing an additional 5,229 shares during the period. Metropolitan Life Insurance Co NY raised its stake in shares of Infinera by 22.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,483 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 2,073 shares during the period. Veritable L.P. raised its stake in shares of Infinera by 42.3% in the 3rd quarter. Veritable L.P. now owns 14,953 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 4,446 shares during the period. Finally, FDx Advisors Inc. increased its position in shares of Infinera by 17.8% in the third quarter. FDx Advisors Inc. now owns 17,097 shares of the communications equipment provider’s stock valued at $83,000 after acquiring an additional 2,578 shares during the last quarter. 97.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INFN. Morgan Stanley lifted their target price on Infinera from $7.00 to $7.50 and gave the company an “equal weight” rating in a research report on Thursday, March 9th. StockNews.com started coverage on Infinera in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Needham & Company LLC reissued a “strong-buy” rating and set a $15.00 price target on shares of Infinera in a research report on Monday, March 13th. Northland Securities lowered their price target on Infinera from $7.00 to $6.00 in a research report on Thursday, May 4th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $9.00 price target on shares of Infinera in a research report on Friday, February 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Infinera presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Infinera Stock Down 1.2 %

Shares of INFN opened at $4.95 on Tuesday. Infinera Co. has a 52 week low of $4.26 and a 52 week high of $7.80. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -23.57 and a beta of 1.41. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.04 and a current ratio of 1.69. The stock has a fifty day moving average of $6.48 and a 200-day moving average of $6.78.

Infinera (NASDAQ:INFN – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The communications equipment provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $392.08 million during the quarter, compared to analysts’ expectations of $381.39 million. Infinera had a negative return on equity of 9.66% and a negative net margin of 2.62%. Infinera’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) EPS. As a group, sell-side analysts anticipate that Infinera Co. will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO David W. Heard bought 6,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was acquired at an average cost of $4.95 per share, with a total value of $29,700.00. Following the transaction, the chief executive officer now directly owns 744,943 shares in the company, valued at $3,687,467.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.18% of the stock is owned by corporate insiders.

Infinera Company Profile

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Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.