Tudor Investment Corp ET AL Grows Stake in ADTRAN Holdings, Inc. $ADTN

Key Points

• Tudor Investment Corp ET AL boosted its ADTRAN stake by 434.2% in Q3 to 897,115 shares (about 1.12% of the company) valued at roughly $8.42 million.
• Other institutions likewise increased or initiated positions (Granahan, Royce, Dynamic, Wolverine, Hussman), leaving hedge funds and institutional investors owning about 80.56% of ADTRAN.
• Analyst view and results — the consensus rating is a "Hold" with an average target of $15.33; ADTRAN beat quarterly EPS ($0.16 vs. $0.08) and revenue estimates but still has a negative net margin and is forecast to post -0.5 EPS for the year.

Tudor Investment Corp ET AL increased its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 434.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 897,115 shares of the communications equipment provider's stock after purchasing an additional 729,194 shares during the quarter. Tudor Investment Corp ET AL owned approximately 1.12% of ADTRAN worth $8,415,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in shares of ADTRAN in the third quarter worth about $2,443,000. Dynamic Technology Lab Private Ltd increased its holdings in shares of ADTRAN by 106.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 116,368 shares of the communications equipment provider's stock worth $1,092,000 after purchasing an additional 60,070 shares during the last quarter. Granahan Investment Management LLC boosted its stake in ADTRAN by 190.8% during the third quarter. Granahan Investment Management LLC now owns 582,490 shares of the communications equipment provider's stock valued at $5,464,000 after buying an additional 382,170 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in ADTRAN during the 3rd quarter valued at approximately $1,379,000. Finally, Royce & Associates LP grew its holdings in ADTRAN by 14.7% during the 3rd quarter. Royce & Associates LP now owns 2,410,775 shares of the communications equipment provider's stock valued at $22,613,000 after buying an additional 308,705 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADTN. Weiss Ratings restated a "sell (d-)" rating on shares of ADTRAN in a report on Thursday. Wall Street Zen cut ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Argus upgraded ADTRAN to a "hold" rating in a report on Wednesday, March 4th. Needham & Company LLC restated a "buy" rating and set a $14.00 price target on shares of ADTRAN in a report on Thursday, February 26th. Finally, Rosenblatt Securities raised their price target on ADTRAN from $11.00 to $16.00 and gave the company a "buy" rating in a report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.33.

ADTRAN Price Performance

NASDAQ:ADTN opened at $12.93 on Tuesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -25.35 and a beta of 1.23. ADTRAN Holdings, Inc. has a 1 year low of $6.93 and a 1 year high of $13.19. The business has a 50 day simple moving average of $10.67 and a 200-day simple moving average of $9.48. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.76 and a quick ratio of 1.16.

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

ADTRAN Company Profile

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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