215,555 Shares in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Acquired by Lisanti Capital Growth LLC

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC raised its stake in ADTRAN by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider's stock worth $38,711,000 after purchasing an additional 114,986 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of ADTRAN by 762.1% during the first quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock worth $239,000 after purchasing an additional 24,182 shares during the period. Quantbot Technologies LP raised its position in shares of ADTRAN by 104.5% in the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock valued at $124,000 after buying an additional 7,636 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of ADTRAN by 53.5% in the fourth quarter. American Century Companies Inc. now owns 172,100 shares of the communications equipment provider's stock valued at $1,434,000 after buying an additional 59,985 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of ADTRAN in the fourth quarter valued at approximately $2,146,000. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Price Performance

Shares of NASDAQ ADTN traded up $0.26 during mid-day trading on Wednesday, hitting $9.40. 987,348 shares of the stock traded hands, compared to its average volume of 842,946. The company has a market cap of $751.81 million, a PE ratio of -5.53 and a beta of 1.32. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.02 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $8.08 and a two-hundred day simple moving average of $8.94.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on ADTN shares. Rosenblatt Securities cut their price objective 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. Needham & Company LLC decreased their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded ADTRAN from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADTRAN presently has a consensus rating of "Buy" and an average price target of $12.00.

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.