Ken Griffin And Citadel Add to Their Position in Finisar Corporation (FNSR)

Ken Griffin and Citadel Investment Group are betting big on Finisar Corporation (NASDAQ:FNSR). Griffin started building the position in the third quarter of 2013. According to their latest 13F filing, the fund held 2.7 million shares at the end of September. In a recent filing with the Securities and Exchange Commission, Citadel revealed an 87% increase in their stake to a little over 5 million shares. The current position accounts for 5.2% of the company's common stock. Finisar Corporation (NASDAQ:FNSR) Ken Fisher shares Ken Griffin's optimism about Finisar Corporation (NASDAQ:FNSR). His fund, Fisher Asset Management, has slightly increased its stake in the company and reported, at the end of September, ownership of 4.5 million shares worth approximately $102.5 million. Christopher Zepf and Brian Thonn have also increased their fund's holding of this stock. Kingdom Ridge Capital reported in its latest 13F filing the ownership of 1.55 million Finisar shares valued at $35 million. This position accounts for 12.72% of the fund's equity portfolio. Daniel Benton has also joined the Finisar fan club. His fund, Andor Capital Management, currently owns 1 million shares reportedly worth $22.6 million. Finisar Corporation (NASDAQ:FNSR) engages in the production of data and telecommunication devices in the United States. So far this year, the stock has advanced 26% and is currently trading at $20.97 per share. The company has a market cap of $2 billion and does not pay a dividend. The stock is trading at a trailing Price to Earnings (P/E) ratio of 73.53 and a beta of 1.97. Finisar Corporation is set to release financial report for the latest quarter today, December 5th, after market close. Analysts expect revenues of $288 million and earnings of $0.39 per share. For the three months ended July 28, 2013, the company reported revenues of $266 million and Earnings Per diluted Share (EPS) of $0.26. Disclosure: none Recommended reading: Cannell Capital Reveals Moves In ValueVision Media Inc (VVTV), and Hooper Holmes, Inc. (HH) Mario Gabelli, GAMCO Are Bullish on Nathan’s Famous, Inc. (NATH) American International Group Inc (AIG), Citigroup Inc (C) Among 5 Financial Stocks That Hedge Funds Love
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