Marshall Wace LLP Has $3.20 Million Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Marshall Wace LLP lifted its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 79.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 384,043 shares of the communications equipment provider's stock after buying an additional 170,181 shares during the quarter. Marshall Wace LLP owned approximately 0.48% of ADTRAN worth $3,199,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP raised its position in ADTRAN by 104.5% during the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock worth $124,000 after buying an additional 7,636 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of ADTRAN in the fourth quarter valued at $140,000. Inceptionr LLC purchased a new stake in ADTRAN during the 4th quarter worth about $162,000. Catalyst Funds Management Pty Ltd raised its stake in ADTRAN by 6.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider's stock worth $190,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of ADTRAN by 62.0% during the fourth quarter. Intech Investment Management LLC now owns 25,038 shares of the communications equipment provider's stock worth $209,000 after acquiring an additional 9,585 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Stock Up 3.6 %

ADTN stock traded up $0.28 during trading hours on Thursday, hitting $7.94. The company's stock had a trading volume of 225,463 shares, compared to its average volume of 929,506. The stock has a 50 day moving average price of $8.64 and a two-hundred day moving average price of $8.73. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $12.44. The company has a market capitalization of $634.50 million, a PE ratio of -1.22 and a beta of 1.46.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADTN. Rosenblatt Securities cut their price objective on ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC increased their price target on ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Craig Hallum started coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $12.50.

ADTRAN 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.