Man Group plc Takes $548,000 Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Man Group plc acquired a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 65,812 shares of the communications equipment provider's stock, valued at approximately $548,000. Man Group plc owned about 0.08% of ADTRAN at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Numerai GP LLC boosted its holdings in shares of ADTRAN by 10.5% during the fourth quarter. Numerai GP LLC now owns 230,773 shares of the communications equipment provider's stock valued at $1,922,000 after acquiring an additional 21,859 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ADTRAN by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock valued at $373,000 after purchasing an additional 1,605 shares during the last quarter. Graham Capital Management L.P. boosted its stake in ADTRAN by 38.0% during the 4th quarter. Graham Capital Management L.P. now owns 56,789 shares of the communications equipment provider's stock valued at $473,000 after purchasing an additional 15,649 shares during the period. Deutsche Bank AG grew its position in ADTRAN by 59.8% in the 4th quarter. Deutsche Bank AG now owns 73,179 shares of the communications equipment provider's stock worth $610,000 after purchasing an additional 27,377 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of ADTRAN by 23.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 231,364 shares of the communications equipment provider's stock valued at $1,927,000 after purchasing an additional 43,221 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Price Performance

NASDAQ:ADTN traded down $0.09 during midday trading on Friday, hitting $8.07. 211,667 shares of the stock were exchanged, compared to its average volume of 932,733. The company has a market capitalization of $645.42 million, a price-to-earnings ratio of -1.24 and a beta of 1.33. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a one year low of $4.62 and a one year high of $12.44. The business has a 50-day moving average price of $7.97 and a two-hundred day moving average price of $8.95.

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 for the quarter, beating the consensus estimate 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 period last year, the business earned $0.02 earnings per share. The business's revenue was up 9.5% on a year-over-year basis. Sell-side analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

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

ADTRAN 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.