Crestline Management LP Invests $2 Million in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Crestline Management LP purchased a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 239,594 shares of the communications equipment provider's stock, valued at approximately $1,996,000. Crestline Management LP owned about 0.30% of ADTRAN at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. William Blair Investment Management LLC grew its stake in shares of ADTRAN by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider's stock worth $38,711,000 after acquiring an additional 114,986 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of ADTRAN by 39.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider's stock worth $7,708,000 after purchasing an additional 263,156 shares during the period. Quantbot Technologies LP increased its stake in shares of ADTRAN by 104.5% in the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock worth $124,000 after acquiring an additional 7,636 shares in the last quarter. Barclays PLC boosted its holdings in ADTRAN by 11.4% in the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider's stock worth $686,000 after acquiring an additional 11,880 shares in the last quarter. Finally, American Century Companies Inc. grew its position in ADTRAN by 53.5% during the 4th quarter. American Century Companies Inc. now owns 172,100 shares of the communications equipment provider's stock valued at $1,434,000 after purchasing an additional 59,985 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Stock Up 7.8%

Shares of ADTN traded up $0.60 during mid-day trading on Monday, hitting $8.31. 1,454,965 shares of the company traded hands, compared to its average volume of 939,786. The company has a market capitalization of $664.48 million, a PE ratio of -1.28 and a beta of 1.33. ADTRAN Holdings, Inc. has a 1-year low of $4.62 and a 1-year high of $12.44. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average of $8.26 and a 200 day moving average of $8.84.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) 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%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share. Equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ADTN shares. Rosenblatt Securities cut their price objective on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reduced their target price on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, ADTRAN currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

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.