Alyeska Investment Group L.P. Acquires New Stake in ADTRAN Holdings, Inc. $ADTN

Key Points

• Alyeska Investment Group L.P. has acquired a new position in ADTRAN Holdings, purchasing 445,264 shares valued at approximately $3.88 million, representing about 0.56% ownership of the company.
• ADTRAN reported a loss per share of ($0.26) in its recent earnings announcement, missing the consensus estimate by $0.27, although revenue increased by 17.3% year-over-year.
• Institutional investors now own 80.56% of ADTRAN's stock, with several firms, including Dimensional Fund Advisors and HSBC Holdings, increasing their stakes in the company during the fourth quarter.

Alyeska Investment Group L.P. bought a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 445,264 shares of the communications equipment provider's stock, valued at approximately $3,883,000. Alyeska Investment Group L.P. owned 0.56% of ADTRAN at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC lifted its holdings in ADTRAN by 157.3% in the first quarter. Cubist Systematic Strategies LLC now owns 449,058 shares of the communications equipment provider's stock valued at $3,916,000 after buying an additional 274,510 shares during the period. Apis Capital Advisors LLC bought a new stake in shares of ADTRAN during the 1st quarter valued at $3,793,000. Graham Capital Management L.P. lifted its stake in shares of ADTRAN by 38.5% in the 1st quarter. Graham Capital Management L.P. now owns 78,652 shares of the communications equipment provider's stock valued at $686,000 after purchasing an additional 21,863 shares during the period. Trexquant Investment LP boosted its position in shares of ADTRAN by 37.2% in the 1st quarter. Trexquant Investment LP now owns 393,496 shares of the communications equipment provider's stock worth $3,431,000 after purchasing an additional 106,641 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of ADTRAN during the first quarter worth $112,000. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Trading Up 2.6%

ADTN stock traded up $0.27 during midday trading on Thursday, hitting $10.61. 661,931 shares of the company's stock were exchanged, compared to its average volume of 739,259. ADTRAN Holdings, Inc. has a one year low of $5.11 and a one year high of $12.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The company has a market cap of $848.57 million, a PE ratio of -8.10 and a beta of 1.39. The stock's fifty day moving average price is $9.28 and its 200-day moving average price is $8.70.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly 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 return on equity of 10.09% and a negative net margin of 11.02%.The business had revenue of $265.07 million for the quarter, compared to analyst estimates of $255.57 million. During the same period in the prior year, the business earned ($0.24) EPS. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADTN has been the subject of a number of recent analyst reports. Wolfe Research started coverage on ADTRAN in a report on Monday, July 7th. They issued a "peer perform" rating for the company. Wall Street Zen lowered ADTRAN from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.