Nuveen LLC Invests $1.99 Million in ADTRAN Holdings, Inc. $ADTN

Key Points

• Nuveen LLC purchased a new stake in ADTRAN Holdings, Inc. for approximately $1,990,000, acquiring 228,200 shares during the first quarter.
• Recent analyst reports show a consensus rating of "Moderate Buy" for ADTRAN with a revised average target price of $12.00.
• ADTRAN reported a quarterly revenue increase of 17.3% year-over-year but missed the EPS consensus estimate, leading to a negative net margin of 11.02%.

Nuveen LLC acquired a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 228,200 shares of the communications equipment provider's stock, valued at approximately $1,990,000. Nuveen LLC owned approximately 0.29% of ADTRAN as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aquatic Capital Management LLC raised its stake in ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock worth $56,000 after purchasing an additional 6,290 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of ADTRAN in the 1st quarter valued at approximately $65,000. Ballentine Partners LLC acquired a new position in shares of ADTRAN in the 1st quarter valued at approximately $94,000. CWM LLC raised its position in shares of ADTRAN by 159.6% in the 1st quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock valued at $116,000 after buying an additional 8,214 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of ADTRAN in the 1st quarter valued at approximately $124,000. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Trading Up 6.0%

ADTN traded up $0.55 during trading on Thursday, reaching $9.83. 219,583 shares of the company's stock were exchanged, compared to its average volume of 1,083,015. ADTRAN Holdings, Inc. has a one year low of $4.93 and a one year high of $12.44. The company has a current ratio of 1.96, a quick ratio of 1.19 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $786.52 million, a PE ratio of -7.53 and a beta of 1.39. The firm has a fifty day moving average price of $9.15 and a two-hundred day moving average price of $8.75.

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 for the quarter, missing analysts' consensus estimates of $0.01 by ($0.27). ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The business had revenue of $265.07 million for the quarter, compared to the consensus estimate of $255.57 million. During the same period in the previous year, the firm earned ($0.24) earnings per share. The company's revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts forecast that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on ADTN shares. Wolfe Research started coverage on shares of ADTRAN in a research report on Monday, July 7th. They issued a "peer perform" rating for the company. Needham & Company LLC decreased their price target on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen lowered shares of ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, ADTRAN currently has an average rating of "Moderate Buy" and an average target price 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.