Assenagon Asset Management S.A. Sells 807,494 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Assenagon Asset Management S.A. trimmed its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 87.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,816 shares of the communications equipment provider's stock after selling 807,494 shares during the quarter. Assenagon Asset Management S.A. owned 0.15% of ADTRAN worth $1,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADTN. William Blair Investment Management LLC lifted its holdings in shares of ADTRAN by 2.5% during the fourth 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 lifted its holdings in ADTRAN by 104.5% during the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock worth $124,000 after buying an additional 7,636 shares during the period. American Century Companies Inc. lifted its holdings in ADTRAN by 53.5% during the 4th quarter. American Century Companies Inc. now owns 172,100 shares of the communications equipment provider's stock worth $1,434,000 after buying an additional 59,985 shares during the period. Raymond James Financial Inc. bought a new stake in shares of ADTRAN in the 4th quarter valued at about $2,146,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of ADTRAN in the fourth quarter valued at about $6,095,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Trading Down 0.6%

Shares of ADTN stock traded down $0.05 during mid-day trading on Friday, hitting $7.89. The company's stock had a trading volume of 976,918 shares, compared to its average volume of 835,167. The company has a market cap of $631.04 million, a PE ratio of -4.64 and a beta of 1.30. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 2.02. The company's fifty day simple moving average is $7.89 and its 200-day simple moving average is $8.92. ADTRAN Holdings, Inc. has a 52 week low of $4.62 and a 52 week high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. During the same quarter in the previous year, the company earned $0.02 earnings per share. The firm's revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts expect that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded ADTRAN from a "hold" rating to a "buy" rating in a research report on Saturday. Needham & Company LLC lowered their price target on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, 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 report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADTRAN presently has a consensus rating of "Buy" and an average price target of $12.00.

ADTRAN Profile

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.