RFG Advisory LLC Invests $260,000 in ADTRAN Holdings, Inc. $ADTN

RFG Advisory LLC purchased a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,987 shares of the communications equipment provider’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ADTRAN by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after purchasing an additional 1,946 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of ADTRAN by 9.8% in the second quarter. Inspire Investing LLC now owns 43,766 shares of the communications equipment provider’s stock worth $393,000 after acquiring an additional 3,921 shares during the period. CWM LLC lifted its stake in shares of ADTRAN by 159.6% in the first quarter. CWM LLC now owns 13,360 shares of the communications equipment provider’s stock worth $116,000 after acquiring an additional 8,214 shares during the period. Park Avenue Securities LLC acquired a new position in shares of ADTRAN in the second quarter worth approximately $91,000. Finally, Ballentine Partners LLC acquired a new position in shares of ADTRAN in the first quarter worth approximately $94,000. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADTN. Wall Street Zen lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. B. Riley began coverage on ADTRAN in a research note on Thursday, September 18th. They issued a “buy” rating and a $16.00 price objective on the stock. Wolfe Research began coverage on ADTRAN in a research note on Monday, July 7th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ADTRAN in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.80.

ADTRAN Trading Down 3.9%

NASDAQ ADTN opened at $9.04 on Monday. The company has a market cap of $723.02 million, a price-to-earnings ratio of -6.90 and a beta of 1.37. ADTRAN Holdings, Inc. has a 52 week low of $6.02 and a 52 week high of $12.44. The business has a 50 day moving average price of $9.30 and a 200-day moving average price of $8.68. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 1.12.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 EPS for the quarter. The firm had revenue of $358.27 million during the quarter. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%. As a group, equities analysts expect that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

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.