Fox Run Management L.L.C. Acquires Shares of 60,819 ADTRAN Holdings, Inc. $ADTN

Key Points

• Fox Run Management L.L.C. invested approximately $530,000 in ADTRAN Holdings, acquiring 60,819 shares during the first quarter, now holding about 0.08% of the company.
• ADTRAN recently reported a loss of ($0.26) EPS, missing analysts' expectations, but revenue for the quarter increased 17.3% year-over-year.
• While Wall Street analysts generally have a Moderate Buy rating for ADTRAN, the average price target has decreased, with recent estimates now around $12.00.

Fox Run Management L.L.C. purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 60,819 shares of the communications equipment provider's stock, valued at approximately $530,000. Fox Run Management L.L.C. owned approximately 0.08% of ADTRAN as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC raised its position 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 in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of ADTRAN in the first quarter worth about $65,000. Ballentine Partners LLC purchased a new position in shares of ADTRAN in the first quarter worth about $94,000. Financial Engines Advisors L.L.C. purchased a new position in shares of ADTRAN in the first quarter worth about $106,000. Finally, SIH Partners LLLP purchased a new position in shares of ADTRAN in the fourth quarter worth about $107,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

ADTRAN Trading Up 3.6%

Shares of NASDAQ ADTN traded up $0.30 during trading hours on Thursday, hitting $8.70. The company's stock had a trading volume of 705,373 shares, compared to its average volume of 1,107,459. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The stock has a market cap of $695.83 million, a price-to-earnings ratio of -6.64 and a beta of 1.30. ADTRAN Holdings, Inc. has a 12 month low of $4.93 and a 12 month high of $12.44. The business has a 50-day simple moving average of $8.92 and a 200-day simple moving average of $8.88.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its 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). 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 firm's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.24) earnings per share. On average, analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADTN has been the topic of several analyst reports. Wolfe Research initiated coverage on ADTRAN in a report on Monday, July 7th. They issued a "peer perform" rating on the stock. Wall Street Zen downgraded ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Finally, Needham & Company LLC decreased their price objective on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.