ADTRAN (NASDAQ:ADTN) CFO Timothy Santo Purchases 17,820 Shares of Stock

ADTRAN Holdings, Inc. (NASDAQ:ADTN) CFO Timothy Santo acquired 17,820 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $4.16 per share, with a total value of $74,131.20. Following the completion of the purchase, the chief financial officer directly owned 77,744 shares in the company, valued at $323,415.04. This represents a 29.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ADTRAN Stock Performance

Shares of ADTN stock opened at $4.29 on Tuesday. The stock has a fifty day moving average price of $6.76 and a 200 day moving average price of $10.90. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.19 and a current ratio of 1.89. The stock has a market cap of $349.55 million, a PE ratio of -16.50, a P/E/G ratio of 2.90 and a beta of 1.53. ADTRAN Holdings, Inc. has a 1 year low of $3.92 and a 1 year high of $19.98.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, November 3rd. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. ADTRAN had a positive return on equity of 17.76% and a negative net margin of 2.20%. The company had revenue of $281.17 million for the quarter, compared to analyst estimates of $285.15 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. ADTRAN’s revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADTN has been the subject of several recent research reports. Wall Street Zen downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings downgraded shares of ADTRAN from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 16th. Evercore set a $11.00 price target on shares of ADTRAN in a report on Wednesday, August 5th. Rosenblatt Securities lowered shares of ADTRAN from a “buy” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $6.25 in a research report on Tuesday, November 3rd. Finally, Needham & Company LLC dropped their price objective on shares of ADTRAN from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, November 3rd. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ADTRAN presently has an average rating of “Hold” and an average target price of $11.21.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of ADTRAN in the second quarter valued at about $108,923,000. Royce & Associates LP lifted its position in ADTRAN by 4.7% during the 3rd quarter. Royce & Associates LP now owns 3,111,416 shares of the communications equipment provider’s stock worth $21,267,000 after acquiring an additional 138,499 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in ADTRAN by 50.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock worth $16,817,000 after acquiring an additional 448,848 shares in the last quarter. CenterBook Partners LP acquired a new position in ADTRAN during the 3rd quarter worth approximately $8,022,000. Finally, Sei Investments Co. boosted its holdings in ADTRAN by 162.0% in the 1st quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock worth $13,902,000 after acquiring an additional 683,262 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Company Profile

ADTRAN Holdings, Inc (NASDAQ: ADTN) is a global telecommunications equipment and networking company that provides communications infrastructure for service providers, enterprises and other organizations. The company develops solutions that help network operators deliver broadband, voice, data and cloud-connected services over fiber, copper, wireless and other access technologies.

Its portfolio includes fiber access systems, passive optical networking equipment, broadband access platforms, Ethernet and data networking products, routers, switches, Wi-Fi solutions, fixed wireless access equipment and software for network management and automation.