Nisa Investment Advisors LLC Buys 6,867 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Nisa Investment Advisors LLC raised its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 20,809.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,900 shares of the communications equipment provider’s stock after purchasing an additional 6,867 shares during the period. Nisa Investment Advisors LLC’s holdings in ADTRAN were worth $51,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADTN. Envestnet Asset Management Inc. increased its stake in ADTRAN by 3.3% in the first quarter. Envestnet Asset Management Inc. now owns 18,255 shares of the communications equipment provider’s stock valued at $337,000 after purchasing an additional 585 shares in the last quarter. JPMorgan Chase & Co. increased its stake in ADTRAN by 1.5% in the first quarter. JPMorgan Chase & Co. now owns 277,080 shares of the communications equipment provider’s stock valued at $5,112,000 after purchasing an additional 4,148 shares in the last quarter. Raymond James & Associates increased its stake in ADTRAN by 5.3% in the first quarter. Raymond James & Associates now owns 19,939 shares of the communications equipment provider’s stock valued at $368,000 after purchasing an additional 995 shares in the last quarter. Citigroup Inc. increased its stake in ADTRAN by 7.5% in the first quarter. Citigroup Inc. now owns 51,167 shares of the communications equipment provider’s stock valued at $944,000 after purchasing an additional 3,579 shares in the last quarter. Finally, MetLife Investment Management LLC grew 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 valued at $467,000 after buying an additional 8,632 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ADTN shares. Rosenblatt Securities reduced their price objective on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, February 28th. StockNews.com upgraded shares of ADTRAN to a “sell” rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.50.

ADTRAN Stock Down 0.8 %

ADTRAN stock opened at $4.69 on Monday. ADTRAN Holdings, Inc. has a fifty-two week low of $4.59 and a fifty-two week high of $11.02. The stock has a market cap of $371.07 million, a PE ratio of -1.47 and a beta of 1.13. The firm’s 50-day simple moving average is $5.62 and its 200 day simple moving average is $6.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.34 and a current ratio of 2.64.

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

ADTRAN Company Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.