Deutsche Bank AG Takes Position in ADTRAN Holdings, Inc. $ADTN

Key Points

• Deutsche Bank acquired 235,833 ADTRAN shares worth approximately $3.28 million, giving it a 0.29% stake. Institutional investors collectively own 80.56% of the company.
• Analyst sentiment is mixed, with four Buy, one Hold, and two Sell ratings; the consensus rating is Hold with an average price target of $14.67.
• ADTRAN’s shares opened at $7.91, near their 52-week low, after the company missed quarterly earnings and revenue estimates despite reporting 6% year-over-year revenue growth.

Deutsche Bank AG purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 235,833 shares of the communications equipment provider's stock, valued at approximately $3,278,000. Deutsche Bank AG owned approximately 0.29% of ADTRAN at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new stake in shares of ADTRAN during the second quarter valued at about $28,000. Bank of New York Mellon Corp acquired a new stake in ADTRAN during the 2nd quarter valued at approximately $3,545,000. State of Wyoming purchased a new stake in ADTRAN during the 2nd quarter worth approximately $503,000. GSA Capital Partners LLP purchased a new stake in ADTRAN during the 2nd quarter worth approximately $692,000. Finally, Walleye Trading LLC acquired a new position in shares of ADTRAN in the 2nd quarter valued at approximately $2,895,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ADTRAN in a report on Tuesday, June 30th. Craig Hallum set a $12.00 target price on shares of ADTRAN in a research report on Wednesday, August 5th. B. Riley Financial restated a "buy" rating and issued a $21.00 target price (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Zacks Research lowered shares of ADTRAN from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 4th. Finally, Northland Securities set a $15.00 price target on shares of ADTRAN in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $14.67.

ADTRAN Stock Performance

Shares of ADTN stock opened at $7.91 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. The business has a 50 day moving average of $10.74 and a two-hundred day moving average of $12.59. ADTRAN Holdings, Inc. has a 52 week low of $7.11 and a 52 week high of $19.98. The company has a market cap of $644.51 million, a P/E ratio of -28.25 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $281.15 million for the quarter, compared to the consensus estimate of $290.19 million. ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The firm's revenue was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that ADTRAN Holdings, Inc. will post 0.16 EPS for the current year.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company's product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.

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