Quantbot Technologies LP Purchases 106,110 Shares of ADTRAN Holdings, Inc. $ADTN

Quantbot Technologies LP increased its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 520.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 126,490 shares of the communications equipment provider’s stock after acquiring an additional 106,110 shares during the period. Quantbot Technologies LP owned about 0.16% of ADTRAN worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ADTN. Cape Investment Advisory Inc. bought a new position in ADTRAN in the second quarter valued at about $27,000. State of Alaska Department of Revenue acquired a new position in shares of ADTRAN in the third quarter valued at approximately $36,000. Skaana Management L.P. bought a new position in ADTRAN in the 3rd quarter valued at approximately $99,000. Stoneridge Investment Partners LLC bought a new stake in ADTRAN during the 3rd quarter worth approximately $100,000. Finally, Vident Advisory LLC acquired a new position in ADTRAN in the 2nd quarter valued at approximately $130,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Trading Down 4.7%

ADTN opened at $9.59 on Friday. ADTRAN Holdings, Inc. has a twelve month low of $6.93 and a twelve month high of $11.10. The company has a fifty day moving average of $9.57 and a 200-day moving average of $9.15. The stock has a market cap of $773.53 million, a PE ratio of -18.80 and a beta of 1.37. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 1.50.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The business had revenue of $291.56 million for the quarter, compared to analyst estimates of $281.12 million. The company’s revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Rosenblatt Securities lifted their price target on shares of ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Argus raised ADTRAN to a “hold” rating in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of ADTRAN in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ADTRAN currently has an average rating of “Hold” and a consensus target price of $15.33.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.