SG Americas Securities LLC Buys 655,058 Shares of ADTRAN Holdings, Inc. $ADTN

Key Points

• SG Americas Securities LLC increased its stake in ADTRAN by 324.3%, buying an additional 655,058 shares to own 857,044 shares (about 1.07% of the company) worth roughly $7.45 million.
• Multiple hedge funds (e.g., Alyeska, Assenagon, Schonfeld, Tudor, Marshall Wace) substantially boosted positions, and institutional ownership now stands at about 80.56% of the stock.
• Analyst sentiment is mixed with a consensus rating of Hold and a $15.33 price target, though Rosenblatt raised its target to $16; ADTRAN recently beat EPS and revenue estimates, with revenue up about 20% year-over-year.

SG Americas Securities LLC grew its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 324.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 857,044 shares of the communications equipment provider's stock after acquiring an additional 655,058 shares during the quarter. SG Americas Securities LLC owned 1.07% of ADTRAN worth $7,448,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Alyeska Investment Group L.P. bought a new position in ADTRAN during the 3rd quarter worth approximately $10,168,000. Assenagon Asset Management S.A. increased its stake in ADTRAN by 691.6% in the third quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider's stock valued at $8,749,000 after purchasing an additional 814,864 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in ADTRAN by 5,809.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider's stock valued at $7,380,000 after purchasing an additional 773,509 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in ADTRAN by 434.2% in the third quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider's stock worth $8,415,000 after purchasing an additional 729,194 shares during the period. Finally, Marshall Wace LLP raised its holdings in ADTRAN by 88.2% in the second quarter. Marshall Wace LLP now owns 816,533 shares of the communications equipment provider's stock worth $7,324,000 after purchasing an additional 382,609 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities boosted their price target on shares of ADTRAN from $11.00 to $16.00 and gave the company a "buy" rating in a report on Friday, February 27th. Argus raised ADTRAN to a "hold" rating in a research note on Wednesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $14.00 target price on shares of ADTRAN in a report on Thursday, February 26th. Finally, Wall Street Zen cut ADTRAN from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 21st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, ADTRAN has a consensus rating of "Hold" and a consensus price target of $15.33.

ADTRAN Stock Performance

Shares of ADTN opened at $12.19 on Tuesday. The firm has a market cap of $983.25 million, a P/E ratio of -23.90 and a beta of 1.37. ADTRAN Holdings, Inc. has a twelve month low of $6.93 and a twelve month high of $13.10. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. The firm's 50 day moving average price is $10.35 and its two-hundred day moving average price is $9.36.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The company had revenue of $291.56 million during the quarter, compared to the consensus estimate of $281.12 million. The company's quarterly revenue was up 20.0% compared to the same quarter last year. On average, analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company's product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.

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