Campbell Capital Management Inc. Makes New Investment 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. acquired a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 39,600 shares of the communications equipment provider's stock, valued at approximately $345,000. ADTRAN accounts for approximately 0.2% of Campbell Capital Management Inc.'s investment portfolio, making the stock its 25th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Aquatic Capital Management LLC grew its holdings in ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock valued at $56,000 after purchasing an additional 6,290 shares during the period. FNY Investment Advisers LLC bought a new position in ADTRAN in the first quarter valued at approximately $65,000. Ballentine Partners LLC bought a new position in ADTRAN in the first quarter valued at approximately $94,000. SIH Partners LLLP bought a new position in ADTRAN in the fourth quarter valued at approximately $107,000. Finally, CWM LLC lifted its stake in ADTRAN by 159.6% in the first quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock valued at $116,000 after buying an additional 8,214 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Stock Down 1.4%

Shares of ADTN stock traded down $0.12 during trading on Friday, reaching $8.59. The company's stock had a trading volume of 777,519 shares, compared to its average volume of 1,367,080. The business has a fifty day moving average price of $8.81 and a 200-day moving average price of $8.94. The company has a quick ratio of 1.18, a current ratio of 1.96 and a debt-to-equity ratio of 1.12. The company has a market cap of $687.03 million, a price-to-earnings ratio of -6.56 and a beta of 1.30. ADTRAN Holdings, Inc. has a one year low of $4.66 and a one year high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data 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). The business 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 business's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) EPS. Analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADTN. Wolfe Research began coverage on shares of ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. Wall Street Zen lowered shares of ADTRAN from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Needham & Company LLC cut 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. Finally, Rosenblatt Securities cut 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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.