RFG Advisory LLC Invests $260,000 in ADTRAN Holdings, Inc. $ADTN

RFG Advisory LLC bought a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 28,987 shares of the communications equipment provider's stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Inspire Investing LLC lifted its holdings in shares of ADTRAN by 9.8% during the second quarter. Inspire Investing LLC now owns 43,766 shares of the communications equipment provider's stock worth $393,000 after buying an additional 3,921 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of ADTRAN during the second quarter worth $348,000. Park Avenue Securities LLC acquired a new stake in shares of ADTRAN during the second quarter worth $91,000. Strs Ohio acquired a new stake in shares of ADTRAN during the first quarter worth $560,000. Finally, Caxton Associates LLP acquired a new stake in shares of ADTRAN during the first quarter worth $806,000. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Stock Performance

ADTRAN stock opened at $9.04 on Monday. ADTRAN Holdings, Inc. has a 12-month low of $6.02 and a 12-month high of $12.44. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 1.12. The business's 50-day moving average price is $9.30 and its two-hundred day moving average price is $8.68. The stock has a market cap of $723.02 million, a PE ratio of -6.90 and a beta of 1.37.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its earnings results on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share (EPS) for the quarter. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The firm had revenue of $358.27 million for the quarter. As a group, analysts expect that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADTN has been the topic of a number of recent analyst reports. B. Riley initiated coverage on ADTRAN in a research report on Thursday, September 18th. They issued a "buy" rating and a $16.00 price target on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of ADTRAN in a research report on Wednesday, October 8th. Wall Street Zen cut ADTRAN from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Wolfe Research initiated coverage on ADTRAN in a research report on Monday, July 7th. They issued a "peer perform" rating on the stock. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.80.

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.

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