Ameriprise Financial Inc. Decreases Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Ameriprise Financial Inc. trimmed its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 10.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 308,427 shares of the communications equipment provider's stock after selling 34,205 shares during the period. Ameriprise Financial Inc. owned approximately 0.39% of ADTRAN worth $2,569,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. William Blair Investment Management LLC grew its position in ADTRAN by 2.5% in 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 purchasing an additional 114,986 shares during the period. Quantbot Technologies LP grew its position in 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 purchasing an additional 7,636 shares during the period. American Century Companies Inc. grew its position in ADTRAN by 53.5% in the 4th quarter. American Century Companies Inc. now owns 172,100 shares of the communications equipment provider's stock worth $1,434,000 after purchasing an additional 59,985 shares during the period. Raymond James Financial Inc. bought a new stake in ADTRAN in the 4th quarter worth approximately $2,146,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ADTRAN in the 4th quarter worth approximately $6,095,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Trading Up 5.1%

NASDAQ:ADTN traded up $0.41 during mid-day trading on Monday, hitting $8.44. 843,675 shares of the stock traded hands, compared to its average volume of 931,697. The stock has a market capitalization of $675.01 million, a price-to-earnings ratio of -1.30 and a beta of 1.33. ADTRAN Holdings, Inc. has a 52 week low of $4.62 and a 52 week high of $12.44. The firm's 50 day moving average is $7.92 and its two-hundred day moving average is $8.97. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. ADTRAN's revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 EPS. On average, equities research analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Rosenblatt Securities dropped their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC dropped their price target on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.