208,278 Shares in ADTRAN Holdings, Inc. $ADTN Acquired by Walleye Trading LLC

Key Points

• Walleye Trading LLC acquired 208,278 ADTRAN shares during the second quarter, valued at approximately $2.9 million and representing a 0.26% stake. Institutional investors collectively own 80.56% of the company.
• Analyst sentiment is mixed, with four Buy, one Hold and two Sell ratings; the consensus rating is Hold with a $14.67 price target.
• ADTRAN’s latest quarterly results missed expectations, reporting $0.04 in adjusted EPS versus $0.10 expected and revenue of $281.15 million versus $290.19 million forecast, although revenue increased 6% year over year.

Walleye Trading LLC bought a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 208,278 shares of the communications equipment provider's stock, valued at approximately $2,895,000. Walleye Trading LLC owned 0.26% of ADTRAN as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of ADTRAN in the third quarter valued at approximately $36,000. Kestra Advisory Services LLC acquired a new stake in shares of ADTRAN during the fourth quarter worth $36,000. ST Germain D J Co. Inc. raised its holdings in shares of 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 during the period. Caitong International Asset Management Co. Ltd bought a new stake in ADTRAN in the 4th quarter valued at $47,000. Finally, Freestone Grove Partners LP bought a new stake in ADTRAN in the 4th quarter valued at $87,000. Institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

ADTN has been the subject of a number of research reports. Craig Hallum set a $12.00 target price on ADTRAN in a report on Wednesday, August 5th. Wall Street Zen lowered ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. B. Riley Financial reaffirmed a "buy" rating and set a $21.00 price objective (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Northland Securities set a $15.00 price objective on ADTRAN in a report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of ADTRAN in a report on Tuesday, June 30th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $14.67.

ADTRAN Stock Up 4.1%

ADTRAN stock opened at $8.40 on Friday. 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 Holdings, Inc. has a 1-year low of $7.11 and a 1-year high of $19.98. The company has a fifty day simple moving average of $11.87 and a 200 day simple moving average of $12.65. The company has a market cap of $684.43 million, a P/E ratio of -30.00 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate 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 business had revenue of $281.15 million for the quarter, compared to the consensus estimate of $290.19 million. ADTRAN's revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current fiscal 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.

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