149,902 Shares in ADTRAN Holdings, Inc. $ADTN Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. acquired 149,902 shares of ADTRAN Holdings, inc. during the first quarter, valued at approximately $1.3 million, and now holds about 0.19% of the company.
• ADTRAN's stock has experienced significant interest from institutions, with 80.56% of shares currently owned by institutional investors and hedge funds, which includes several new positions and notable increases in existing holdings.
• Despite a revenue increase of 17.3% year-over-year, ADTRAN reported a loss of $0.26 EPS for the most recent quarter, missing analysts’ expectations by $0.27.

Jacobs Levy Equity Management Inc. acquired a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 149,902 shares of the communications equipment provider's stock, valued at approximately $1,307,000. Jacobs Levy Equity Management Inc. owned about 0.19% of ADTRAN as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ADTN. FNY Investment Advisers LLC purchased a new stake in ADTRAN during the first quarter worth about $65,000. Ballentine Partners LLC purchased a new position in shares of ADTRAN in the first quarter worth $94,000. Financial Engines Advisors L.L.C. purchased a new position in shares of ADTRAN in the first quarter worth $106,000. Landscape Capital Management L.L.C. purchased a new position in shares of ADTRAN in the first quarter worth $112,000. Finally, CWM LLC increased its stake in shares of ADTRAN by 159.6% in the first quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock worth $116,000 after buying an additional 8,214 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.

ADTRAN Stock Down 12.9%

Shares of ADTN stock traded down $1.35 during trading hours on Tuesday, reaching $9.10. 3,250,089 shares of the company's stock were exchanged, compared to its average volume of 1,093,325. ADTRAN Holdings, Inc. has a 1 year low of $5.42 and a 1 year high of $12.44. The stock has a market cap of $727.42 million, a PE ratio of -6.93 and a beta of 1.39. The company has a current ratio of 1.96, a quick ratio of 1.19 and a debt-to-equity ratio of 1.12. The stock's fifty day moving average price is $9.30 and its two-hundred day moving average price is $8.67.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.27). ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The firm had revenue of $265.07 million during the quarter, compared to analysts' expectations of $255.57 million. During the same quarter in the prior year, the company earned ($0.24) EPS. ADTRAN's quarterly revenue was up 17.3% on a year-over-year basis. Research analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADTN. Wolfe Research began coverage on shares of ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Wall Street Zen cut shares of ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, ADTRAN has a consensus rating of "Moderate Buy" and an average target price of $12.00.

ADTRAN Company 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.