Walleye Trading LLC Makes New $2.90 Million Investment in ADTRAN Holdings, Inc. $ADTN

Walleye Trading LLC acquired a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 208,278 shares of the communications equipment provider’s stock, valued at approximately $2,895,000.

Several other large investors also recently made changes to their positions in ADTN. Quarry LP bought a new position in shares of ADTRAN in the third quarter valued at $36,000. Kestra Advisory Services LLC acquired a new position in ADTRAN during the fourth quarter worth $36,000. ST Germain D J Co. Inc. raised its position in ADTRAN by 100.0% during the fourth 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. Caitong International Asset Management Co. Ltd bought a new stake in ADTRAN during the fourth quarter worth $47,000. Finally, Freestone Grove Partners LP acquired a new stake in ADTRAN in the fourth quarter valued at $87,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Craig Hallum set a $12.00 price objective on shares of ADTRAN in a research report on Wednesday, August 5th. B. Riley Financial reaffirmed a “buy” rating and issued a $21.00 target price (down from $23.00) on shares of ADTRAN in a report on Thursday, July 23rd. Needham & Company LLC cut their target price on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Rosenblatt Securities cut their target price on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.67.

ADTRAN Stock Up 4.1%

ADTN opened at $8.40 on Friday. The stock’s fifty day simple moving average is $11.87 and its 200 day simple moving average is $12.65. ADTRAN Holdings, Inc. has a 1-year low of $7.11 and a 1-year high of $19.98. The stock has a market cap of $684.43 million, a PE ratio of -30.00 and a beta of 1.47. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The company had revenue of $281.15 million for the quarter, compared to the consensus estimate of $290.19 million. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts expect that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current year.

About ADTRAN

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.