Arrowstreet Capital Limited Partnership Raises Holdings in ADTRAN Holdings, Inc. $ADTN

Key Points

• Arrowstreet Capital increased its ADTRAN stake by 60.2% in the first quarter, adding 171,145 shares to own 455,647 shares valued at approximately $5.7 million. Institutional investors collectively hold 80.56% of the company.
• Analysts maintain a generally positive outlook, with ADTRAN receiving a consensus “Moderate Buy” rating and an average price target of $18.20, despite several recent target-price cuts.
• ADTRAN reported quarterly EPS of $0.14, beating estimates of $0.09, while revenue rose 15.5% year over year to $286.09 million. However, the stock opened at $8.51, near its 12-month low of $7.11, and the company posted a negative net margin.

Arrowstreet Capital Limited Partnership lifted its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 60.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 455,647 shares of the communications equipment provider's stock after purchasing an additional 171,145 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.56% of ADTRAN worth $5,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ADTN. Caxton Associates LLP acquired a new position in ADTRAN in the 1st quarter valued at $308,000. Sei Investments Co. grew its holdings in shares of ADTRAN by 162.0% during the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider's stock worth $13,902,000 after buying an additional 683,262 shares in the last quarter. Group One Trading LLC raised its position in shares of ADTRAN by 2,003.7% in the first quarter. Group One Trading LLC now owns 26,275 shares of the communications equipment provider's stock valued at $331,000 after buying an additional 25,026 shares during the last quarter. Lido Advisors LLC raised its position in shares of ADTRAN by 42.5% in the first quarter. Lido Advisors LLC now owns 129,330 shares of the communications equipment provider's stock valued at $1,627,000 after buying an additional 38,552 shares during the last quarter. Finally, Globeflex Capital L P lifted its stake in shares of ADTRAN by 24.0% in the first quarter. Globeflex Capital L P now owns 132,417 shares of the communications equipment provider's stock worth $1,666,000 after buying an additional 25,662 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen cut ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Tuesday, July 28th. Needham & Company LLC dropped their target price on ADTRAN from $18.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 target price on shares of ADTRAN in a research note on Thursday, July 23rd. B. Riley Financial reiterated a "buy" rating and set a $21.00 price target (down from $23.00) on shares of ADTRAN in a report on Thursday, July 23rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of ADTRAN in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ADTRAN has a consensus rating of "Moderate Buy" and an average price target of $18.20.

ADTRAN Stock Performance

ADTN opened at $8.51 on Monday. The business has a fifty day moving average price of $13.68 and a 200 day moving average price of $12.76. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. ADTRAN Holdings, Inc. has a 12 month low of $7.11 and a 12 month high of $19.98. The stock has a market capitalization of $693.14 million, a price-to-earnings ratio of -21.82 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $286.09 million during the quarter, compared to analysts' expectations of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. Sell-side analysts expect that ADTRAN Holdings, Inc. will post 0.23 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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