31,381 Shares in ADTRAN Holdings, Inc. $ADTN Bought by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA acquired 31,381 shares of ADTRAN Holdings, Inc., valued at approximately $274,000 during the first quarter.
• ADTRAN reported a loss of ($0.26) earnings per share for the latest quarter, missing expectations, despite a 17.3% increase in revenue year-over-year, totaling $265.07 million.
• Currently, 80.56% of ADTRAN's stock is owned by institutional investors, indicating significant investment interest in the company.

Petrus Trust Company LTA bought a new position in shares of 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 bought 31,381 shares of the communications equipment provider's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Royce & Associates LP raised its position in ADTRAN by 188.5% in the 1st quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider's stock valued at $12,265,000 after purchasing an additional 919,000 shares during the last quarter. Invesco Ltd. raised its position in ADTRAN by 325.4% in the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider's stock valued at $10,317,000 after purchasing an additional 905,056 shares during the last quarter. Vanguard Group Inc. raised its position in ADTRAN by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 7,093,931 shares of the communications equipment provider's stock valued at $61,859,000 after purchasing an additional 501,512 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in ADTRAN in the 1st quarter valued at $3,883,000. Finally, Apis Capital Advisors LLC bought a new position in ADTRAN in the 1st quarter valued at $3,793,000. Institutional investors own 80.56% of the company's stock.

ADTRAN Trading Down 4.7%

Shares of NASDAQ ADTN traded down $0.50 during midday trading on Friday, hitting $10.11. The stock had a trading volume of 692,590 shares, compared to its average volume of 731,616. The company's 50-day simple moving average is $9.29 and its 200 day simple moving average is $8.70. The firm has a market cap of $808.60 million, a P/E ratio of -7.72 and a beta of 1.39. ADTRAN Holdings, Inc. has a fifty-two week low of $5.26 and a fifty-two week high of $12.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $265.07 million during the quarter, compared to analyst estimates of $255.57 million. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The firm's quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the business posted ($0.24) earnings per share. Research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wolfe Research assumed coverage on ADTRAN in a research report on Monday, July 7th. They issued a "peer perform" rating for the company. Wall Street Zen downgraded ADTRAN from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, ADTRAN presently has an average rating of "Moderate Buy" and an average target price 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.