D. E. Shaw & Co. Inc. Boosts Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

D. E. Shaw & Co. Inc. lifted its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,364 shares of the communications equipment provider's stock after acquiring an additional 43,221 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.29% of ADTRAN worth $1,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of ADTRAN by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider's stock valued at $741,000 after purchasing an additional 13,478 shares in the last quarter. SG Americas Securities LLC lifted its holdings in ADTRAN by 24.7% in the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider's stock worth $295,000 after buying an additional 7,011 shares during the period. Kovack Advisors Inc. boosted its position in ADTRAN by 2.7% during the 4th quarter. Kovack Advisors Inc. now owns 799,950 shares of the communications equipment provider's stock valued at $6,664,000 after acquiring an additional 21,100 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in ADTRAN during the 4th quarter valued at approximately $300,000. Finally, Victory Capital Management Inc. purchased a new position in shares of ADTRAN during the 4th quarter worth approximately $1,012,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on ADTN. Rosenblatt Securities lowered their target price on ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC decreased their price objective on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

ADTRAN Stock Up 2.9%

Shares of ADTN stock traded up $0.23 during trading hours on Tuesday, hitting $8.03. 443,255 shares of the company's stock traded hands, compared to its average volume of 935,655. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The stock's fifty day simple moving average is $8.01 and its two-hundred day simple moving average is $8.96. ADTRAN Holdings, Inc. has a 12-month low of $4.62 and a 12-month high of $12.44. The stock has a market cap of $642.22 million, a price-to-earnings ratio of -1.23 and a beta of 1.33.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. During the same quarter in the previous year, the business earned $0.02 earnings per share. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts expect that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

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.