Russell Investments Group Ltd. Has $1.29 Million Stock Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Russell Investments Group Ltd. reduced its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 82.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 175,097 shares of the communications equipment provider's stock after selling 824,859 shares during the quarter. Russell Investments Group Ltd. owned 0.22% of ADTRAN worth $1,285,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of ADTRAN by 20,809.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider's stock valued at $51,000 after purchasing an additional 6,867 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of ADTRAN by 91.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,933 shares of the communications equipment provider's stock worth $106,000 after purchasing an additional 6,179 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ADTRAN during the third quarter worth $119,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ADTRAN by 19.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,185 shares of the communications equipment provider's stock valued at $125,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in ADTRAN during the third quarter worth about $137,000. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Stock Performance

Shares of NASDAQ ADTN traded down $0.10 during trading hours on Friday, hitting $5.27. 737,122 shares of the company's stock were exchanged, compared to its average volume of 767,250. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.46 and a quick ratio of 1.33. The company's 50-day moving average price is $5.13 and its 200-day moving average price is $5.98. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $11.02. The stock has a market capitalization of $416.96 million, a price-to-earnings ratio of -0.77 and a beta of 1.13.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($1.01). ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. The firm had revenue of $225.48 million for the quarter, compared to the consensus estimate of $232.45 million. On average, sell-side analysts expect that ADTRAN Holdings, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADTN has been the subject of several recent research reports. StockNews.com upgraded ADTRAN to a "sell" rating in a report on Wednesday, March 6th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 target price on shares of ADTRAN in a research report on Wednesday, May 8th. Northland Capmk upgraded shares of ADTRAN from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 8th. Northland Securities raised shares of ADTRAN from a "market perform" rating to an "outperform" rating and set a $7.50 price objective on the stock in a report on Wednesday, May 8th. Finally, Rosenblatt Securities reduced their price target on ADTRAN from $8.00 to $7.50 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $7.67.

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.