Lisanti Capital Growth LLC Invests $1.88 Million in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Lisanti Capital Growth LLC acquired a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 215,555 shares of the communications equipment provider's stock, valued at approximately $1,880,000. Lisanti Capital Growth LLC owned approximately 0.27% of ADTRAN at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Koesten Hirschmann & Crabtree INC. grew its position in shares of ADTRAN by 30.2% during the 1st quarter. Koesten Hirschmann & Crabtree INC. now owns 70,448 shares of the communications equipment provider's stock worth $614,000 after buying an additional 16,349 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of ADTRAN during the 1st quarter worth approximately $65,000. SG Americas Securities LLC grew its position in shares of ADTRAN by 560.1% during the 1st quarter. SG Americas Securities LLC now owns 233,837 shares of the communications equipment provider's stock worth $2,039,000 after buying an additional 198,413 shares during the period. GAMMA Investing LLC grew its position in shares of ADTRAN by 762.1% during the 1st quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock worth $239,000 after buying an additional 24,182 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of ADTRAN by 11.5% during the 4th quarter. Squarepoint Ops LLC now owns 387,944 shares of the communications equipment provider's stock worth $3,232,000 after buying an additional 39,978 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Trading Up 1.5%

ADTRAN stock traded up $0.13 during midday trading on Friday, hitting $8.89. 3,630,234 shares of the stock were exchanged, compared to its average volume of 836,264. The company has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $8.93. ADTRAN Holdings, Inc. has a 52 week low of $4.62 and a 52 week high of $12.44. The stock has a market capitalization of $711.02 million, a PE ratio of -5.23 and a beta of 1.30. The company has a quick ratio of 1.18, a current ratio of 2.02 and a debt-to-equity ratio of 1.37.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative net margin of 14.58% and a negative return on equity of 20.07%. During the same quarter last year, the business posted $0.02 EPS. The firm's revenue was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of ADTRAN from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Needham & Company LLC lowered their price target on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Rosenblatt Securities lowered their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "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.