Deprince Race & Zollo Inc. Has $25,200,000 Stake in Adtran Inc. (ADTN)
Deprince Race & Zollo Inc. reduced its position in Adtran Inc. (NASDAQ:ADTN) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,351,225 shares of the company’s stock after selling 478,351 shares during the period. Deprince Race & Zollo Inc. owned approximately 2.77% of Adtran worth $25,200,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ADTN. CHICAGO TRUST Co NA bought a new stake in Adtran during the second quarter worth approximately $199,000. BNP Paribas Arbitrage SA boosted its stake in Adtran by 112.0% in the second quarter. BNP Paribas Arbitrage SA now owns 15,257 shares of the company’s stock worth $285,000 after buying an additional 8,060 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Adtran during the first quarter worth approximately $584,000. Skyline Asset Management LP boosted its stake in Adtran by 10.4% in the first quarter. Skyline Asset Management LP now owns 948,500 shares of the company’s stock worth $19,179,000 after buying an additional 89,400 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Adtran by 52.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 324,309 shares of the company’s stock worth $6,558,000 after buying an additional 111,289 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.
Shares of Adtran Inc. (NASDAQ:ADTN) traded down 0.10% during trading on Tuesday, hitting $19.15. 134,172 shares of the stock traded hands. The company’s 50 day moving average is $18.58 and its 200 day moving average is $18.81. The firm has a market cap of $926.82 million, a PE ratio of 33.95 and a beta of 0.95. Adtran Inc. has a 52-week low of $13.92 and a 52-week high of $21.43.
ADTN has been the subject of several research reports. Zacks Investment Research cut shares of Adtran from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Adtran in a research note on Thursday, July 14th. Finally, MKM Partners reaffirmed a “buy” rating and set a $24.00 price objective on shares of Adtran in a research note on Sunday, July 17th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Adtran currently has a consensus rating of “Hold” and a consensus target price of $22.05.
Adtran Company Profile
ADTRAN, Inc is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: the Carrier Networks Division and the Enterprise Networks Division. Its Carrier Networks Division supplies the network access products, services and supports that service providers require to connect their customers to transmission and switching networks.
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