1 week Ago By ABMN Staff
Arrowstreet Capital Limited Partnership bought a new stake in ADTRAN Holdings, Inc. ( NASDAQ:ADTN – Free Report ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 731,745 shares of the communications equipment provider’s stock, valued at approximately $6,095,000.
A number of other large investors have also added to or reduced their stakes in ADTN. Intech Investment Management LLC acquired a new stake in shares of ADTRAN during the third quarter valued at about $92,000. Point72 Asset Management L.
P. acquired a new stake in ADTRAN during the 3rd quarter valued at approximately $114,000. Quantinno Capital Management LP purchased a new stake in ADTRAN during the 3rd quarter worth approximately $120,000.
Quantbot Technologies LP raised its position in shares of ADTRAN by 104.5% in the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock valued at $124,000 after purchasing an additional 7,636 shares in the last quarter.
Finally, Magnetar Financial LLC purchased a new position in shares of ADTRAN during the 4th quarter valued at approximately $140,000. 80.56% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes A number of analysts recently issued reports on ADTN shares. Craig Hallum began coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.
00 price target for the company. Northland Securities upped their target price on shares of ADTRAN from $9.00 to $10.
00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Needham & Company LLC lifted their price target on ADTRAN from $11.00 to $14.
00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of ADTRAN in a research note on Friday, February 28th.
One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $13.
50. ADTRAN Trading Up 0.3 % NASDAQ ADTN opened at $7.
45 on Tuesday. The firm has a market capitalization of $595.72 million, a PE ratio of -1.
14 and a beta of 1.46. ADTRAN Holdings, Inc.
has a one year low of $4.34 and a one year high of $12.44.
The company has a 50-day simple moving average of $9.93 and a 200-day simple moving average of $8.56.
The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.
10. About ADTRAN ( Free Report ) ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support.
It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services. See Also Want to see what other hedge funds are holding ADTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ADTRAN Holdings, Inc.
( NASDAQ:ADTN – Free Report ). Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter .
.
