Tudor Investment Corp ET AL Buys 729,194 Shares of ADTRAN Holdings, Inc. $ADTN

Tudor Investment Corp ET AL grew its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 434.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 897,115 shares of the communications equipment provider’s stock after purchasing an additional 729,194 shares during the period. Tudor Investment Corp ET AL’s holdings in ADTRAN were worth $8,415,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Worth Venture Partners LLC lifted its stake in shares of ADTRAN by 296.1% in the 3rd quarter. Worth Venture Partners LLC now owns 144,431 shares of the communications equipment provider’s stock valued at $1,355,000 after purchasing an additional 107,964 shares during the last quarter. PharVision Advisers LLC bought a new stake in shares of ADTRAN during the 3rd quarter worth approximately $221,000. XTX Topco Ltd lifted its stake in shares of ADTRAN by 142.2% during the 3rd quarter. XTX Topco Ltd now owns 59,657 shares of the communications equipment provider’s stock worth $560,000 after acquiring an additional 35,027 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of ADTRAN during the 3rd quarter worth approximately $10,168,000. Finally, Virtus Advisers LLC bought a new stake in shares of ADTRAN during the 3rd quarter worth approximately $296,000. 80.56% of the stock is owned by institutional investors.

ADTRAN Trading Up 0.4%

Shares of NASDAQ ADTN opened at $12.93 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $10.67 and a two-hundred day simple moving average of $9.48. The firm has a market cap of $1.04 billion, a PE ratio of -25.35 and a beta of 1.23. ADTRAN Holdings, Inc. has a twelve month low of $6.93 and a twelve month high of $13.19.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 21st. Argus raised ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of ADTRAN in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday. Finally, Rosenblatt Securities raised their price target on ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ADTRAN has a consensus rating of “Hold” and an average price target of $15.33.

ADTRAN Company 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.