Quantbot Technologies LP Purchases Shares of 47,692 ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Quantbot Technologies LP acquired a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTNFree Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 47,692 shares of the communications equipment provider’s stock, valued at approximately $393,000. Quantbot Technologies LP owned about 0.06% of ADTRAN at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADTN. BlackRock Inc. raised its position in shares of ADTRAN by 7.7% during the second quarter. BlackRock Inc. now owns 13,266,379 shares of the communications equipment provider’s stock worth $139,695,000 after purchasing an additional 951,700 shares during the period. Vanguard Group Inc. raised its holdings in ADTRAN by 43.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,539,783 shares of the communications equipment provider’s stock worth $147,629,000 after buying an additional 2,298,501 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ADTRAN by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,684,534 shares of the communications equipment provider’s stock valued at $38,798,000 after buying an additional 414,254 shares during the period. State Street Corp increased its position in shares of ADTRAN by 4.1% during the second quarter. State Street Corp now owns 2,726,016 shares of the communications equipment provider’s stock worth $28,705,000 after acquiring an additional 108,561 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of ADTRAN by 0.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,155,949 shares of the communications equipment provider’s stock worth $39,777,000 after acquiring an additional 16,212 shares during the period. Institutional investors own 81.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ADTN shares. Rosenblatt Securities boosted their price target on ADTRAN from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, December 15th. Argus downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Monday, November 20th. StockNews.com upgraded shares of ADTRAN to a “sell” rating in a report on Wednesday, January 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of ADTRAN in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, ADTRAN presently has an average rating of “Hold” and an average target price of $15.40.

Check Out Our Latest Stock Report on ADTRAN

ADTRAN Price Performance

Shares of ADTN opened at $6.40 on Friday. The company has a current ratio of 2.73, a quick ratio of 1.42 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $6.86 and its 200 day simple moving average is $7.31. ADTRAN Holdings, Inc. has a 1-year low of $4.91 and a 1-year high of $17.99. The company has a market cap of $503.68 million, a price-to-earnings ratio of -4.89 and a beta of 1.17.

ADTRAN (NASDAQ:ADTNGet Free Report) last released its quarterly earnings data on Monday, November 6th. The communications equipment provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). ADTRAN had a negative return on equity of 2.68% and a negative net margin of 7.93%. The firm had revenue of $272.33 million for the quarter, compared to analyst estimates of $284.80 million. On average, research analysts forecast that ADTRAN Holdings, Inc. will post -0.46 earnings per share for the current fiscal year.

About ADTRAN

(Free Report)

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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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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