ADTRAN, Inc. (ADTN) Shares Bought by Trexquant Investment LP
Trexquant Investment LP raised its stake in ADTRAN, Inc. (NASDAQ:ADTN) by 75.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,616 shares of the communications equipment provider’s stock after buying an additional 8,035 shares during the period. Trexquant Investment LP’s holdings in ADTRAN were worth $384,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of ADTRAN by 75,959.4% in the first quarter. BlackRock Inc. now owns 5,930,353 shares of the communications equipment provider’s stock valued at $123,054,000 after buying an additional 5,922,556 shares during the last quarter. Norges Bank acquired a new position in shares of ADTRAN during the fourth quarter valued at approximately $8,783,000. Victory Capital Management Inc. increased its position in shares of ADTRAN by 10.2% in the first quarter. Victory Capital Management Inc. now owns 3,835,026 shares of the communications equipment provider’s stock valued at $79,577,000 after buying an additional 356,159 shares during the last quarter. Vanguard Group Inc. increased its position in shares of ADTRAN by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,434,998 shares of the communications equipment provider’s stock valued at $92,026,000 after buying an additional 252,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of ADTRAN by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,870,230 shares of the communications equipment provider’s stock valued at $59,558,000 after buying an additional 172,439 shares during the last quarter. 90.07% of the stock is owned by hedge funds and other institutional investors.
ADTRAN, Inc. (NASDAQ:ADTN) opened at 21.70 on Wednesday. The stock has a 50 day moving average price of $21.80 and a 200 day moving average price of $20.91. The firm has a market cap of $1.04 billion, a P/E ratio of 27.09 and a beta of 0.65. ADTRAN, Inc. has a 1-year low of $17.55 and a 1-year high of $24.05.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.11. The company had revenue of $184.67 million for the quarter, compared to analysts’ expectations of $183.05 million. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. During the same period last year, the firm posted $0.21 EPS. On average, analysts anticipate that ADTRAN, Inc. will post $0.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.66%. ADTRAN’s dividend payout ratio is 43.90%.
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ADTN has been the subject of several research analyst reports. Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research note on Friday, July 21st. Northland Securities reissued a “buy” rating and set a $24.00 target price on shares of ADTRAN in a research note on Tuesday, July 4th. Cowen and Company reissued a “market perform” rating and set a $18.00 target price (up previously from $16.00) on shares of ADTRAN in a research note on Saturday, July 22nd. MKM Partners reissued a “buy” rating and set a $26.50 target price (down previously from $27.50) on shares of ADTRAN in a research note on Monday, April 24th. Finally, Needham & Company LLC lowered their price objective on ADTRAN from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $23.57.
In related news, SVP Michael Foliano sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total transaction of $570,480.00. Following the transaction, the senior vice president now directly owns 5,417 shares of the company’s stock, valued at approximately $128,762.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.96% of the company’s stock.
ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) 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: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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