Caxton Associates LLP Takes $806,000 Position in ADTRAN Holdings, Inc. $ADTN

Key Points

• Caxton Associates LLP has taken a new position in ADTRAN Holdings, Inc., purchasing 92,393 shares valued at approximately $806,000.
• ADTRAN reported a negative earnings per share (EPS) of ($0.26) for the last quarter, missing analysts' expectations but showing a 17.3% increase in revenue year-over-year.
• Institutional investors currently own 80.56% of ADTRAN's stock, reflecting significant interest from large funds and hedge funds in the company.

Caxton Associates LLP purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 92,393 shares of the communications equipment provider's stock, valued at approximately $806,000. Caxton Associates LLP owned approximately 0.12% of ADTRAN as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of ADTRAN during the first quarter valued at approximately $65,000. Ballentine Partners LLC bought a new stake in shares of ADTRAN during the first quarter valued at approximately $94,000. Financial Engines Advisors L.L.C. bought a new stake in shares of ADTRAN during the first quarter valued at approximately $106,000. Landscape Capital Management L.L.C. purchased a new position in ADTRAN during the first quarter valued at approximately $112,000. Finally, CWM LLC increased its holdings in ADTRAN by 159.6% during 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 during the period. Institutional investors own 80.56% of the company's stock.

ADTRAN Price Performance

NASDAQ ADTN opened at $10.34 on Thursday. The firm's fifty day simple moving average is $9.26 and its two-hundred day simple moving average is $8.70. The company has a current ratio of 1.96, a quick ratio of 1.19 and a debt-to-equity ratio of 1.12. ADTRAN Holdings, Inc. has a 12-month low of $4.97 and a 12-month high of $12.44. The firm has a market capitalization of $826.99 million, a P/E ratio of -7.89 and a beta of 1.39.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The firm had revenue of $265.07 million during the quarter, compared to analysts' expectations of $255.57 million. During the same period in the prior year, the firm posted ($0.24) earnings per share. ADTRAN's revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

ADTN has been the topic of several research reports. Wall Street Zen lowered shares of ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Wolfe Research initiated coverage on shares of ADTRAN in a report on Monday, July 7th. They set a "peer perform" rating on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, ADTRAN presently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

ADTRAN Company 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.

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