Penserra Capital Management LLC Takes Position in ADTRAN, Inc. (ADTN)

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Penserra Capital Management LLC acquired a new position in shares of ADTRAN, Inc. (NASDAQ:ADTN) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 23,408 shares of the communications equipment provider’s stock, valued at approximately $320,000.

A number of other large investors have also recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new stake in shares of ADTRAN in the first quarter valued at approximately $52,000. Financial Gravity Companies Inc. purchased a new stake in shares of ADTRAN in the fourth quarter valued at approximately $59,000. Financial Gravity Wealth Inc. purchased a new stake in shares of ADTRAN in the first quarter valued at approximately $59,000. Investors Research Corp purchased a new stake in shares of ADTRAN in the first quarter valued at approximately $62,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of ADTRAN by 11.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 6,876 shares of the communications equipment provider’s stock valued at $74,000 after purchasing an additional 726 shares in the last quarter. Institutional investors own 89.17% of the company’s stock.

ADTN has been the subject of a number of analyst reports. BidaskClub upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. MKM Partners upped their price target on ADTRAN to $20.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Zacks Investment Research upgraded ADTRAN from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, April 22nd. ValuEngine upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Needham & Company LLC lowered ADTRAN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $19.40.

In related news, VP Roger D. Shannon sold 5,701 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $17.65, for a total value of $100,622.65. Following the completion of the transaction, the vice president now directly owns 19,009 shares in the company, valued at $335,508.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.52% of the company’s stock.

Shares of ADTRAN stock opened at $16.32 on Friday. The company has a market capitalization of $780.24 million, a P/E ratio of -34.72, a price-to-earnings-growth ratio of 11.30 and a beta of 1.36. ADTRAN, Inc. has a fifty-two week low of $10.21 and a fifty-two week high of $19.30.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Wednesday, April 17th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.19. The company had revenue of $143.79 million during the quarter, compared to analyst estimates of $140.55 million. ADTRAN had a negative return on equity of 0.32% and a negative net margin of 1.40%. As a group, analysts anticipate that ADTRAN, Inc. will post 0.28 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were given a $0.09 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $0.36 annualized dividend and a yield of 2.21%. ADTRAN’s payout ratio is -76.60%.

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ADTRAN Profile

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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