ADTRAN Holdings, Inc. (NASDAQ:ADTN) Short Interest Update

ADTRAN Holdings, Inc. (NASDAQ:ADTNGet Rating) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,920,000 shares, a decline of 15.4% from the August 15th total of 2,270,000 shares. Based on an average daily trading volume, of 920,700 shares, the short-interest ratio is currently 2.1 days.

ADTRAN Trading Up 4.2 %

ADTN opened at $18.59 on Friday. The stock has a fifty day simple moving average of $22.68 and a two-hundred day simple moving average of $19.94. The company has a market cap of $916.67 million, a price-to-earnings ratio of -66.39 and a beta of 1.36. ADTRAN has a 12-month low of $16.30 and a 12-month high of $25.47.

ADTRAN (NASDAQ:ADTNGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. ADTRAN had a positive return on equity of 4.69% and a negative net margin of 2.20%. During the same period in the prior year, the business earned $0.14 earnings per share. On average, analysts predict that ADTRAN will post 0.6 EPS for the current year.

ADTRAN Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.94%. ADTRAN’s dividend payout ratio is currently -128.57%.

Analyst Upgrades and Downgrades

ADTN has been the subject of several analyst reports. Cowen increased their price objective on ADTRAN to $34.00 in a research note on Monday, August 15th. Needham & Company LLC assumed coverage on ADTRAN in a research note on Thursday, July 14th. They issued a “buy” rating and a $28.00 price objective for the company. The Goldman Sachs Group upped their target price on ADTRAN from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Westpark Capital assumed coverage on ADTRAN in a report on Tuesday, September 13th. They issued a “hold” rating for the company. Finally, Rosenblatt Securities reduced their target price on ADTRAN from $30.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, September 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.50.

Insider Buying and Selling at ADTRAN

In related news, CEO Brian Protiva sold 26,501 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $24.64, for a total transaction of $652,984.64. Following the transaction, the chief executive officer now directly owns 330,609 shares of the company’s stock, valued at approximately $8,146,205.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On ADTRAN

A number of institutional investors have recently modified their holdings of ADTN. FMR LLC boosted its position in shares of ADTRAN by 41.3% during the second quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 574 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of ADTRAN by 3.3% during the first quarter. Envestnet Asset Management Inc. now owns 18,255 shares of the communications equipment provider’s stock valued at $337,000 after buying an additional 585 shares during the last quarter. Annex Advisory Services LLC boosted its position in shares of ADTRAN by 5.2% during the second quarter. Annex Advisory Services LLC now owns 12,796 shares of the communications equipment provider’s stock valued at $224,000 after buying an additional 627 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of ADTRAN by 7.0% during the first quarter. Teacher Retirement System of Texas now owns 10,050 shares of the communications equipment provider’s stock valued at $185,000 after buying an additional 655 shares during the last quarter. Finally, Texas Permanent School Fund boosted its position in shares of ADTRAN by 2.0% during the second quarter. Texas Permanent School Fund now owns 35,503 shares of the communications equipment provider’s stock valued at $622,000 after buying an additional 694 shares during the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

About ADTRAN

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ADTRAN Holdings, Inc develops and provides network access solutions. It is a global provider of open, disaggregated networking and communications equipment that enable voice, data, video and internet communications across any network infrastructure. The company was founded in 1985 and is headquartered in Huntsville, AL.

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