ADTRAN Holdings, Inc. $ADTN Stock Position Increased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in ADTRAN Holdings, Inc. by 753.7%, acquiring an additional 112,644 shares in the first quarter, bringing its total ownership to about 0.16% valued at $1.11 million.
• ADTRAN reported a loss of $0.26 earnings per share (EPS) for the last quarter, missing estimates, despite a 17.3% revenue increase year-over-year, totaling $265.07 million.
• The average price target for ADTRAN stock from analysts is set at $12.00, with ratings indicating a Moderate Buy from four equities research analysts.

Quantbot Technologies LP boosted its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 753.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,589 shares of the communications equipment provider's stock after purchasing an additional 112,644 shares during the period. Quantbot Technologies LP owned about 0.16% of ADTRAN worth $1,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in ADTRAN by 762.1% in the first quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock valued at $239,000 after purchasing an additional 24,182 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in ADTRAN in the first quarter valued at about $1,880,000. BNP Paribas Financial Markets purchased a new position in ADTRAN in the fourth quarter valued at about $399,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in ADTRAN by 310.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 167,590 shares of the communications equipment provider's stock valued at $1,461,000 after purchasing an additional 126,783 shares during the last quarter. Finally, Swiss National Bank purchased a new position in ADTRAN in the first quarter valued at about $1,273,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

ADTRAN Stock Performance

Shares of NASDAQ:ADTN traded down $0.07 on Friday, hitting $9.38. The company's stock had a trading volume of 1,258,750 shares, compared to its average volume of 991,213. ADTRAN Holdings, Inc. has a 12 month low of $4.93 and a 12 month high of $12.44. The company has a market capitalization of $750.21 million, a price-to-earnings ratio of -7.16 and a beta of 1.30. The stock's 50-day moving average is $9.11 and its two-hundred day moving average is $8.80. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $255.57 million. During the same period in the previous year, the company posted ($0.24) EPS. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities research analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wolfe Research began coverage on ADTRAN in a report on Monday, July 7th. They set a "peer perform" rating on the stock. Needham & Company LLC reduced their target price on 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 downgraded ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, ADTRAN has an average rating of "Moderate 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.