XTX Topco Ltd Sells 42,715 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Key Points

• XTX Topco Ltd has reduced its holdings in ADTRAN Holdings, Inc. by 76.1%, selling 42,715 shares during the first quarter, leaving them with 13,402 shares worth $117,000.
• ADTRAN recently reported a negative EPS of ($0.26) for the quarter, missing analysts' estimates, but experienced a 17.3% increase in revenue year-over-year with $265.07 million.
• Institutional investors currently own 80.56% of ADTRAN's stock, indicating strong interest in the company among larger investment firms.

XTX Topco Ltd lessened its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 76.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,402 shares of the communications equipment provider's stock after selling 42,715 shares during the quarter. XTX Topco Ltd's holdings in ADTRAN were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Aquatic Capital Management LLC grew its position in ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock valued at $56,000 after acquiring an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of ADTRAN during the 1st quarter worth $65,000. Ballentine Partners LLC bought a new position in shares of ADTRAN during the 1st quarter worth $94,000. SIH Partners LLLP bought a new position in shares of ADTRAN during the 4th quarter worth $107,000. Finally, CWM LLC grew its position in shares of ADTRAN by 159.6% during the 1st quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock worth $116,000 after buying an additional 8,214 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

ADTRAN Trading Down 4.1%

Shares of NASDAQ ADTN opened at $8.94 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The stock has a market capitalization of $715.02 million, a P/E ratio of -6.82 and a beta of 1.30. ADTRAN Holdings, Inc. has a 1-year low of $4.90 and a 1-year high of $12.44. The business has a fifty day moving average price of $8.87 and a 200 day moving average price of $8.92.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly 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). ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The business had revenue of $265.07 million during the quarter, compared to analysts' expectations of $255.57 million. During the same quarter last year, the business posted ($0.24) earnings per share. The company's quarterly revenue was up 17.3% compared to the same quarter last year. Equities research analysts expect that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADTN has been the topic of a number of recent research reports. Wolfe Research initiated coverage on ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Wall Street Zen downgraded ADTRAN from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Rosenblatt Securities dropped their price target on ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC dropped their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

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.

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