Counterpoint Mutual Funds LLC Takes Position in ADTRAN Holdings, Inc. $ADTN

Key Points

• Counterpoint Mutual Funds LLC acquired a new stake in ADTRAN Holdings, Inc., purchasing 38,834 shares valued at approximately $348,000.
• ADTRAN's stock has received mixed ratings from analysts, with five giving it a "Buy" rating and one a "Hold" rating, resulting in an average price target of $12.80.
• As of the latest earnings report, ADTRAN reported a loss of ($0.26) EPS, missing the consensus estimate by $0.27, despite a 17.3% increase in revenue year-over-year.

Counterpoint Mutual Funds LLC bought a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,834 shares of the communications equipment provider's stock, valued at approximately $348,000.

Other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of ADTRAN in the first quarter valued at about $65,000. Park Avenue Securities LLC bought a new stake in ADTRAN during the second quarter worth about $91,000. Ballentine Partners LLC bought a new stake in ADTRAN during the first quarter worth about $94,000. Financial Engines Advisors L.L.C. bought a new stake in ADTRAN during the first quarter worth about $106,000. Finally, Landscape Capital Management L.L.C. bought a new stake in ADTRAN during the first quarter worth about $112,000. Institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating for the company. B. Riley assumed coverage on shares of ADTRAN in a research report on Thursday, September 18th. They set a "buy" rating and a $16.00 price objective for the company. Finally, Wall Street Zen cut shares of ADTRAN from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, ADTRAN has an average rating of "Moderate Buy" and an average price target of $12.80.

ADTRAN Stock Down 1.4%

ADTN stock opened at $9.43 on Thursday. The stock has a market capitalization of $754.21 million, a P/E ratio of -7.20 and a beta of 1.39. 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 $5.67 and a 12 month high of $12.44. The firm has a 50-day moving average price of $9.31 and a 200-day moving average price of $8.66.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results 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 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 revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted ($0.24) EPS. As a group, equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal 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.

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