Gratia Capital LLC Makes New Investment in ADTRAN Holdings, Inc. $ADTN

Gratia Capital LLC purchased a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 250,492 shares of the communications equipment provider’s stock, valued at approximately $3,482,000. ADTRAN makes up about 2.1% of Gratia Capital LLC’s holdings, making the stock its 11th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in ADTN. Integrated Wealth Concepts LLC bought a new stake in shares of ADTRAN during the second quarter worth $27,000. Persistent Asset Partners Ltd acquired a new position in ADTRAN in the 2nd quarter worth $28,000. Quarry LP bought a new position in ADTRAN during the 3rd quarter worth about $36,000. Kestra Advisory Services LLC acquired a new stake in shares of ADTRAN in the 4th quarter valued at about $36,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of ADTRAN in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Price Performance

Shares of ADTN opened at $7.20 on Thursday. The company has a market cap of $586.66 million, a price-to-earnings ratio of -25.71, a PEG ratio of 4.64 and a beta of 1.47. ADTRAN Holdings, Inc. has a 1-year low of $7.04 and a 1-year high of $19.98. The company’s fifty day simple moving average is $9.36 and its 200 day simple moving average is $12.40. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The firm had revenue of $281.15 million during the quarter, compared to analyst estimates of $290.19 million. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts forecast that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADTN has been the subject of several recent research reports. Evercore set a $11.00 price objective on ADTRAN in a research report on Wednesday, August 5th. Rosenblatt Securities lowered their price target on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Northland Securities set a $15.00 price target on shares of ADTRAN in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research note on Tuesday, June 30th. Finally, Craig Hallum set a $12.00 price objective on ADTRAN in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.67.

ADTRAN Profile

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.