Balyasny Asset Management L.P. Boosts Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Balyasny Asset Management L.P. increased its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 127.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,824 shares of the communications equipment provider's stock after purchasing an additional 33,564 shares during the period. Balyasny Asset Management L.P. owned approximately 0.08% of ADTRAN worth $498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Barclays PLC grew its stake in shares of ADTRAN by 11.4% during the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider's stock valued at $686,000 after buying an additional 11,880 shares during the last quarter. JPMorgan Chase & Co. increased 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 worth $741,000 after purchasing an additional 13,478 shares during the period. Assenagon Asset Management S.A. lifted 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 purchasing an additional 263,156 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of ADTRAN by 24.7% during the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider's stock valued at $295,000 after purchasing an additional 7,011 shares during the period. Finally, Kovack Advisors Inc. boosted its stake 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 purchasing an additional 21,100 shares during the period. Institutional investors own 80.56% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ADTN. Rosenblatt Securities lowered 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 dropped their target price on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.00.

ADTRAN Trading Down 0.4%

ADTRAN stock traded down $0.03 during mid-day trading on Monday, reaching $8.10. 512,104 shares of the company traded hands, compared to its average volume of 936,367. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. ADTRAN Holdings, Inc. has a 52-week low of $4.62 and a 52-week high of $12.44. The firm has a market capitalization of $647.69 million, a price-to-earnings ratio of -1.24 and a beta of 1.33. The firm's 50 day moving average price is $8.16 and its 200 day moving average price is $8.91.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. During the same quarter in the previous year, the company earned $0.02 EPS. ADTRAN's quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

ADTRAN 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.