Campbell Capital Management Inc. Invests $345,000 in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Key Points

• Campbell Capital Management Inc. acquired 39,600 shares of ADTRAN Holdings, valued at approximately $345,000, making it the firm's 25th largest holding.
• Research analysts maintain a consensus rating of "Buy" for ADTRAN stock, although price targets have been adjusted down to between $11.00 and $12.00 by various analysts.
• ADTRAN's quarterly earnings report revealed a loss of ($0.26) earnings per share, which was below analysts' expectations, despite revenue surpassing forecasts at $265.07 million.

Campbell Capital Management Inc. bought a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 39,600 shares of the communications equipment provider's stock, valued at approximately $345,000. ADTRAN makes up approximately 0.2% of Campbell Capital Management Inc.'s portfolio, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Quantinno Capital Management LP grew its holdings in shares of ADTRAN by 4.3% during the fourth quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider's stock valued at $176,000 after buying an additional 877 shares during the last quarter. Hsbc Holdings PLC raised its holdings in ADTRAN by 11.4% in the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock worth $122,000 after acquiring an additional 1,501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ADTRAN by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock valued at $373,000 after acquiring an additional 1,605 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in ADTRAN by 0.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider's stock valued at $2,320,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of ADTRAN by 5.6% in the 4th quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider's stock worth $808,000 after purchasing an additional 5,168 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wolfe Research began coverage on ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Wall Street Zen upgraded shares of ADTRAN from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Rosenblatt Securities reduced their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC decreased their price objective 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. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $12.00.

ADTRAN Stock Performance

Shares of ADTN stock traded up $0.05 during mid-day trading on Thursday, reaching $8.71. 841,630 shares of the company's stock traded hands, compared to its average volume of 1,363,574. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.18 and a current ratio of 1.96. The firm has a market capitalization of $696.63 million, a PE ratio of -6.65 and a beta of 1.30. ADTRAN Holdings, Inc. has a 12 month low of $4.66 and a 12 month high of $12.44. The firm has a 50 day moving average price of $8.80 and a two-hundred day moving average price of $8.97.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The communications equipment provider reported ($0.26) EPS for the quarter, missing the consensus estimate 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 quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business earned ($0.24) EPS. On average, research analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

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.