ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stake Lessened by HB Wealth Management LLC

HB Wealth Management LLC trimmed its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,208 shares of the communications equipment provider’s stock after selling 7,007 shares during the period. HB Wealth Management LLC owned about 0.06% of ADTRAN worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ADTN. Envestnet Asset Management Inc. raised its holdings 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 worth $337,000 after acquiring an additional 585 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ADTRAN by 1.5% during the first quarter. JPMorgan Chase & Co. now owns 277,080 shares of the communications equipment provider’s stock worth $5,112,000 after acquiring an additional 4,148 shares in the last quarter. Raymond James & Associates raised its holdings in shares of ADTRAN by 5.3% during the first quarter. Raymond James & Associates now owns 19,939 shares of the communications equipment provider’s stock worth $368,000 after acquiring an additional 995 shares in the last quarter. Citigroup Inc. raised its holdings in shares of ADTRAN by 7.5% during the first quarter. Citigroup Inc. now owns 51,167 shares of the communications equipment provider’s stock worth $944,000 after acquiring an additional 3,579 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of ADTRAN by 51.8% during the first quarter. MetLife Investment Management LLC now owns 25,302 shares of the communications equipment provider’s stock worth $467,000 after acquiring an additional 8,632 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Stock Up 2.3 %

Shares of ADTN opened at $5.44 on Friday. The stock has a market cap of $430.41 million, a price-to-earnings ratio of -1.70 and a beta of 1.13. The company has a quick ratio of 1.34, a current ratio of 2.64 and a debt-to-equity ratio of 0.33. ADTRAN Holdings, Inc. has a 12 month low of $4.91 and a 12 month high of $15.95. The company has a 50-day moving average price of $6.18 and a two-hundred day moving average price of $6.67.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($1.01). The business had revenue of $225.48 million during the quarter, compared to analyst estimates of $232.45 million. ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. Equities analysts predict that ADTRAN Holdings, Inc. will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

ADTN has been the topic of several analyst reports. Needham & Company LLC lowered their target price on shares of ADTRAN from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Rosenblatt Securities lowered their target price on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com raised ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.13.

About ADTRAN

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.