Optiver Holding B.V. lowered its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN – Free Report) by 86.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,697 shares of the communications equipment provider’s stock after selling 29,383 shares during the period. Optiver Holding B.V.’s holdings in ADTRAN were worth $49,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in ADTN. Quadrant Capital Group LLC grew its holdings in shares of ADTRAN by 686.7% in the second quarter. Quadrant Capital Group LLC now owns 3,194 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 2,788 shares in the last quarter. FMR LLC grew its holdings in ADTRAN by 41.3% during the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 574 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in ADTRAN by 165.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 1,386 shares in the last quarter. US Bancorp DE grew its holdings in ADTRAN by 328.0% during the 2nd quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 2,939 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in ADTRAN during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 81.88% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. StockNews.com upgraded shares of ADTRAN to a “sell” rating in a report on Friday. Needham & Company LLC lowered their price target on shares of ADTRAN from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 7th. Rosenblatt Securities cut shares of ADTRAN from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $11.00 to $7.00 in a report on Tuesday, November 7th. Finally, Argus cut shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, ADTRAN presently has a consensus rating of “Hold” and a consensus price target of $15.20.
ADTRAN Stock Up 1.3 %
Shares of NASDAQ:ADTN opened at $5.62 on Tuesday. The company has a market capitalization of $442.29 million, a PE ratio of -4.29 and a beta of 1.36. The company has a current ratio of 2.73, a quick ratio of 1.42 and a debt-to-equity ratio of 0.29. ADTRAN Holdings, Inc. has a twelve month low of $4.91 and a twelve month high of $21.15. The firm has a 50 day simple moving average of $7.17 and a 200-day simple moving average of $8.52.
ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.
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