Trexquant Investment LP Increases Holdings in ADTRAN Holdings, Inc. $ADTN

Key Points

• Trexquant Investment LP raised its stake in ADTRAN Holdings, Inc. by 37.2%, owning 393,496 shares valued at approximately $3.43 million after acquiring an additional 106,641 shares in the first quarter.
• Several investment firms, including Hsbc Holdings PLC and Quantbot Technologies LP, significantly increased their positions in ADTRAN, highlighting growing institutional interest as 80.56% of stocks are now held by hedge funds and other investors.
• Despite a revenue increase of 17.3% year-over-year, ADTRAN reported a loss of ($0.26) earnings per share for the most recent quarter, missing analyst expectations, while analysts have set a consensus target price of $12.00 with mixed ratings.

Trexquant Investment LP increased its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 37.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 393,496 shares of the communications equipment provider's stock after acquiring an additional 106,641 shares during the quarter. Trexquant Investment LP owned approximately 0.49% of ADTRAN worth $3,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ADTN. Aquatic Capital Management LLC grew its position in 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 acquiring an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC bought a new position in ADTRAN during the 1st quarter worth approximately $65,000. Ballentine Partners LLC bought a new position in ADTRAN during the 1st quarter worth approximately $94,000. Financial Engines Advisors L.L.C. bought a new position in ADTRAN during the 1st quarter worth approximately $106,000. Finally, Landscape Capital Management L.L.C. bought a new position in ADTRAN during the 1st quarter worth approximately $112,000. 80.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ADTN. Wolfe Research assumed coverage on ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Wall Street Zen cut ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

ADTRAN Trading Up 0.8%

NASDAQ ADTN traded up $0.08 on Friday, hitting $9.75. The company's stock had a trading volume of 632,299 shares, compared to its average volume of 730,837. ADTRAN Holdings, Inc. has a 52-week low of $4.93 and a 52-week high of $12.44. The company has a current ratio of 1.96, a quick ratio of 1.19 and a debt-to-equity ratio of 1.12. The company's 50-day simple moving average is $9.19 and its 200 day simple moving average is $8.70. The firm has a market cap of $779.81 million, a P/E ratio of -7.44 and a beta of 1.39.

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 analysts' consensus estimates of $0.01 by ($0.27). The firm had revenue of $265.07 million during the quarter, compared to analysts' expectations of $255.57 million. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) EPS. Research analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

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.