Russell Investments Group Ltd. Has $655,000 Stock Holdings in ADTRAN Holdings, Inc. $ADTN

Key Points

• Russell Investments Group Ltd. increased its stake in ADTRAN Holdings by 257.3%, owning 75,162 shares valued at approximately $655,000.
• ADTRAN reported a quarterly EPS of ($0.26), missing expectations, but revenue rose 17.3% year-over-year, totaling $265.07 million.
• Four analysts rated ADTRAN as a "Buy" while one gave it a "Hold," with a consensus target price of $12.00.

Russell Investments Group Ltd. raised its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 257.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 75,162 shares of the communications equipment provider's stock after acquiring an additional 54,125 shares during the period. Russell Investments Group Ltd. owned about 0.09% of ADTRAN worth $655,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Aquatic Capital Management LLC increased its position in shares of ADTRAN by 1,572.5% in the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock valued at $56,000 after acquiring an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of ADTRAN during the 1st quarter worth approximately $65,000. Ballentine Partners LLC bought a new stake in shares of ADTRAN during the 1st quarter worth approximately $94,000. Financial Engines Advisors L.L.C. acquired a new stake in shares of ADTRAN in the 1st quarter valued at approximately $106,000. Finally, CWM LLC boosted its holdings in shares of ADTRAN by 159.6% in the 1st quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock valued at $116,000 after buying an additional 8,214 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Price Performance

Shares of ADTN stock traded up $0.56 on Thursday, hitting $9.84. 316,973 shares of the company's stock were exchanged, compared to its average volume of 1,083,534. The company has a 50 day moving average of $9.15 and a 200 day moving average of $8.75. The stock has a market cap of $786.60 million, a P/E ratio of -7.53 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. ADTRAN Holdings, Inc. has a 12 month low of $4.93 and a 12 month high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted 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). The company had revenue of $265.07 million during the quarter, compared to the consensus estimate of $255.57 million. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The firm's revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted ($0.24) EPS. On average, equities research analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wall Street Zen cut shares of ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Wolfe Research assumed coverage on ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, ADTRAN presently has an average rating of "Moderate Buy" and an average 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.