VIRGINIA RETIREMENT SYSTEMS ET Al Takes $563,000 Position in ADTRAN Holdings, Inc. $ADTN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 64,800 shares of the communications equipment provider’s stock, valued at approximately $563,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new stake in ADTRAN during the third quarter worth about $10,168,000. Schonfeld Strategic Advisors LLC grew its stake in shares of ADTRAN by 5,809.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after buying an additional 773,509 shares in the last quarter. Tudor Investment Corp ET AL grew its position in ADTRAN by 434.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock valued at $8,415,000 after acquiring an additional 729,194 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of ADTRAN by 324.3% during the fourth quarter. SG Americas Securities LLC now owns 857,044 shares of the communications equipment provider’s stock worth $7,448,000 after purchasing an additional 655,058 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of ADTRAN by 88.2% in the second quarter. Marshall Wace LLP now owns 816,533 shares of the communications equipment provider’s stock valued at $7,324,000 after purchasing an additional 382,609 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Performance

Shares of ADTN opened at $14.96 on Tuesday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -38.36 and a beta of 1.45. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. ADTRAN Holdings, Inc. has a 52-week low of $7.11 and a 52-week high of $18.69. The stock has a 50 day moving average price of $13.94 and a 200 day moving average price of $10.75.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The firm had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period last year, the firm posted $0.03 EPS. The company’s revenue was up 15.5% on a year-over-year basis. Research analysts predict that ADTRAN Holdings, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of ADTRAN in a report on Wednesday, May 6th. Evercore started coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Northland Securities set a $18.00 target price on ADTRAN in a report on Wednesday, May 6th. Argus upgraded ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Finally, B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.00.

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.