ADTRAN Holdings, Inc. $ADTN Shares Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP lifted its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 130.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,156 shares of the communications equipment provider’s stock after acquiring an additional 88,962 shares during the quarter. GSA Capital Partners LLP owned 0.20% of ADTRAN worth $1,366,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. DNB Asset Management AS grew its position in shares of ADTRAN by 7.6% in the 4th quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock worth $27,145,000 after acquiring an additional 219,810 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of ADTRAN in the 4th quarter worth approximately $563,000. Versor Investments LP grew its position in shares of ADTRAN by 286.0% in the 4th quarter. Versor Investments LP now owns 60,600 shares of the communications equipment provider’s stock worth $527,000 after acquiring an additional 44,900 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of ADTRAN by 2.2% in the 4th quarter. First Eagle Investment Management LLC now owns 1,235,207 shares of the communications equipment provider’s stock worth $10,734,000 after acquiring an additional 26,000 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its position in shares of ADTRAN by 100.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ADTN. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of ADTRAN in a research report on Wednesday, May 6th. Rosenblatt Securities lifted their target price on ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Argus upgraded ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Northland Securities set a $18.00 target price on ADTRAN in a research report on Wednesday, May 6th. Finally, Evercore began coverage on ADTRAN in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price for the company. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.00.

ADTRAN Trading Down 0.7%

Shares of NASDAQ ADTN opened at $14.47 on Thursday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -37.10 and a beta of 1.45. ADTRAN Holdings, Inc. has a 12-month low of $7.11 and a 12-month high of $18.69. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. The stock’s 50 day simple moving average is $14.13 and its 200 day simple moving average is $10.81.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. Equities research analysts expect that ADTRAN Holdings, Inc. will post 0.39 EPS for the current year.

ADTRAN Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.