Insider Selling: Ciena Co. (CIEN) SVP Sells $91,652.37 in Stock
Ciena Co. (NYSE:CIEN) SVP Rick Hamilton sold 2,931 shares of the business’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $31.27, for a total transaction of $91,652.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of NYSE:CIEN opened at $30.89 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.97. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. Ciena Co. has a 1 year low of $19.40 and a 1 year high of $32.33.
Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.12. The company had revenue of $818.82 million for the quarter, compared to analyst estimates of $792.28 million. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. analysts anticipate that Ciena Co. will post 1.09 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of CIEN. Dimensional Fund Advisors LP increased its stake in Ciena by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,405,223 shares of the communications equipment provider’s stock worth $114,095,000 after purchasing an additional 1,026,844 shares during the period. Victory Capital Management Inc. increased its stake in Ciena by 89.4% during the second quarter. Victory Capital Management Inc. now owns 2,153,725 shares of the communications equipment provider’s stock worth $57,095,000 after purchasing an additional 1,016,354 shares during the period. LSV Asset Management increased its stake in Ciena by 56.6% during the second quarter. LSV Asset Management now owns 2,734,607 shares of the communications equipment provider’s stock worth $72,494,000 after purchasing an additional 988,292 shares during the period. Dalton Greiner Hartman Maher & Co. purchased a new stake in Ciena during the second quarter worth about $17,890,000. Finally, Emerald Advisers Inc. PA increased its stake in Ciena by 97.2% during the second quarter. Emerald Advisers Inc. PA now owns 1,290,822 shares of the communications equipment provider’s stock worth $34,220,000 after purchasing an additional 636,313 shares during the period.
Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data 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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