ADTRAN Holdings, Inc. $ADTN Shares Purchased by Kovack Advisors Inc.

Kovack Advisors Inc. boosted its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 753,550 shares of the communications equipment provider’s stock after acquiring an additional 45,650 shares during the quarter. Kovack Advisors Inc.’s holdings in ADTRAN were worth $6,669,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADTN. Alyeska Investment Group L.P. acquired a new position in shares of ADTRAN during the third quarter worth $10,168,000. Schonfeld Strategic Advisors LLC grew its holdings in ADTRAN by 5,809.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after purchasing an additional 773,509 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in ADTRAN by 434.2% during 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 purchasing an additional 729,194 shares in the last quarter. SG Americas Securities LLC increased its stake in ADTRAN by 324.3% during the 4th quarter. SG Americas Securities LLC now owns 857,044 shares of the communications equipment provider’s stock worth $7,448,000 after buying an additional 655,058 shares during the period. Finally, Marshall Wace LLP lifted its holdings in ADTRAN by 88.2% in the 2nd quarter. Marshall Wace LLP now owns 816,533 shares of the communications equipment provider’s stock worth $7,324,000 after buying an additional 382,609 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

ADTN opened at $15.20 on Friday. The company has a market capitalization of $1.23 billion, a P/E ratio of -38.97 and a beta of 1.42. The company has a 50-day moving average of $15.69 and a 200-day moving average of $11.74. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77. ADTRAN Holdings, Inc. has a 1-year low of $7.11 and a 1-year high of $19.98.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $286.09 million for the quarter, compared to analysts’ expectations of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 earnings per share. Equities analysts expect that ADTRAN Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen downgraded ADTRAN from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 17th. Evercore started coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of ADTRAN in a report on Wednesday, May 6th. Rosenblatt Securities raised their price objective on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, B. Riley Financial restated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.