ADTRAN, Inc. (NASDAQ:ADTN) was the recipient of unusually large options trading on Tuesday. Traders acquired 746 call options on the stock. This is an increase of 1,308% compared to the typical volume of 53 call options.
In other news, SVP Kevin P. Heering sold 9,809 shares of ADTRAN stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $21.60, for a total value of $211,874.40. Following the completion of the transaction, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at approximately $219,499.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.96% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in ADTRAN by 5.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 373 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in ADTRAN during the 3rd quarter valued at about $157,000. SG Americas Securities LLC acquired a new position in ADTRAN during the 3rd quarter valued at about $190,000. Suntrust Banks Inc. acquired a new position in ADTRAN during the 2nd quarter valued at about $208,000. Finally, Crossmark Global Holdings Inc. acquired a new position in ADTRAN during the 3rd quarter valued at about $211,000. 91.37% of the stock is owned by institutional investors and hedge funds.
ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. The business had revenue of $126.52 million during the quarter, compared to analyst estimates of $125.90 million. equities analysts anticipate that ADTRAN will post 0.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, January 30th. ADTRAN’s payout ratio is 72.00%.
Several research analysts have recently weighed in on ADTN shares. Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Friday, October 20th. BidaskClub lowered ADTRAN from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. MKM Partners decreased their target price on ADTRAN from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, December 29th. Cowen reaffirmed a “hold” rating and issued a $16.00 target price on shares of ADTRAN in a research report on Friday, December 29th. Finally, Northland Securities set a $28.00 target price on ADTRAN and gave the company a “buy” rating in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.41.
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ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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