SG Americas Securities LLC Acquires 198,413 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

SG Americas Securities LLC raised its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 560.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 233,837 shares of the communications equipment provider's stock after acquiring an additional 198,413 shares during the quarter. SG Americas Securities LLC owned approximately 0.29% of ADTRAN worth $2,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aquatic Capital Management LLC raised its stake in shares of ADTRAN by 1,572.5% during 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. SIH Partners LLLP bought a new position in shares of ADTRAN in the fourth quarter valued at $107,000. Hsbc Holdings PLC increased its holdings in ADTRAN by 11.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock worth $122,000 after buying an additional 1,501 shares during the last quarter. Quantbot Technologies LP raised its position in ADTRAN by 104.5% during the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock worth $124,000 after acquiring an additional 7,636 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in ADTRAN during the fourth quarter worth $140,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Trading Up 0.9%

Shares of ADTN traded up $0.07 during trading hours on Tuesday, hitting $7.80. The company had a trading volume of 1,132,489 shares, compared to its average volume of 900,024. ADTRAN Holdings, Inc. has a 12 month low of $4.62 and a 12 month high of $12.44. The business has a fifty day moving average of $7.89 and a 200-day moving average of $8.95. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.02 and a quick ratio of 1.18.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADTN. Needham & Company LLC lowered their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Rosenblatt Securities reduced their price target on ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently 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.