ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lowered its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 10.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 174,548 shares of the communications equipment provider’s stock after selling 20,543 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.22% of ADTRAN worth $1,454,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Caxton Associates LP acquired a new stake in ADTRAN in the fourth quarter valued at approximately $418,000. Balyasny Asset Management L.P. boosted its stake in shares of ADTRAN by 127.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 59,824 shares of the communications equipment provider’s stock valued at $498,000 after buying an additional 33,564 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of ADTRAN by 20.2% during the 4th quarter. Bank of America Corp DE now owns 634,013 shares of the communications equipment provider’s stock valued at $5,281,000 after buying an additional 106,601 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of ADTRAN during the 4th quarter valued at approximately $399,000. Finally, Algert Global LLC purchased a new position in shares of ADTRAN during the 4th quarter valued at approximately $179,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Needham & Company LLC dropped their price target on ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday. Rosenblatt Securities dropped their price target on ADTRAN from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, ADTRAN has an average rating of “Moderate Buy” and a consensus target price of $12.00.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $8.31 on Tuesday. ADTRAN Holdings, Inc. has a 1-year low of $4.62 and a 1-year high of $12.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The business’s fifty day moving average price is $8.21 and its two-hundred day moving average price is $8.86. The firm has a market capitalization of $664.48 million, a PE ratio of -1.28 and a beta of 1.33.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. ADTRAN’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. On average, research analysts expect that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

About ADTRAN

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.