Susquehanna Fundamental Investments LLC Takes Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Susquehanna Fundamental Investments LLC purchased a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the 4th quarter, Holdings Channel.com reports. The firm purchased 119,708 shares of the communications equipment provider’s stock, valued at approximately $997,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of ADTRAN by 11.4% in the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after purchasing an additional 11,880 shares during the period. JPMorgan Chase & Co. boosted its stake in ADTRAN by 12.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider’s stock valued at $741,000 after buying an additional 13,478 shares in the last quarter. Assenagon Asset Management S.A. grew its position in ADTRAN by 39.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after acquiring an additional 263,156 shares during the period. SG Americas Securities LLC raised its stake in ADTRAN by 24.7% during the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock worth $295,000 after acquiring an additional 7,011 shares in the last quarter. Finally, Kovack Advisors Inc. lifted its holdings in shares of ADTRAN by 2.7% during the fourth quarter. Kovack Advisors Inc. now owns 799,950 shares of the communications equipment provider’s stock valued at $6,664,000 after acquiring an additional 21,100 shares during the period. Institutional investors own 80.56% of the company’s stock.

ADTRAN Trading Up 1.7 %

Shares of NASDAQ ADTN opened at $7.79 on Friday. ADTRAN Holdings, Inc. has a 1-year low of $4.54 and a 1-year high of $12.44. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $8.59 and a two-hundred day moving average of $8.74. The company has a market cap of $622.90 million, a PE ratio of -1.20 and a beta of 1.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Rosenblatt Securities cut their price target on shares of ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC lifted their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Craig Hallum initiated coverage on ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.50.

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.