1 week Ago By Defense World Staff
Corebridge Financial Inc. reduced its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN – Free Report) by 7.
0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,153 shares of the communications equipment provider’s stock after selling 2,955 shares during the period. Corebridge Financial Inc.
’s holdings in ADTRAN were worth $326,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors also recently modified their holdings of ADTN. Quantbot Technologies LP raised its holdings in shares of ADTRAN by 104.
5% during the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock valued at $124,000 after buying an additional 7,636 shares during the period. Magnetar Financial LLC purchased a new stake in shares of ADTRAN during the fourth quarter valued at approximately $140,000.
Point72 Asset Management L.P. acquired a new position in shares of ADTRAN during the third quarter worth $114,000.
Inceptionr LLC acquired a new position in shares of ADTRAN during the fourth quarter worth $162,000. Finally, Quantinno Capital Management LP acquired a new stake in ADTRAN during the 3rd quarter valued at $120,000. Institutional investors and hedge funds own 80.
56% of the company’s stock. ADTRAN Stock Down 8.2 %Shares of ADTRAN stock opened at $7.
54 on Friday. The business has a 50-day moving average price of $9.68 and a 200 day moving average price of $8.
58. ADTRAN Holdings, Inc. has a fifty-two week low of $4.
34 and a fifty-two week high of $12.44. The firm has a market cap of $602.
91 million, a P/E ratio of -1.16 and a beta of 1.46.
The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.
89. Wall Street Analyst Weigh InA number of equities analysts have commented on the stock. Northland Securities boosted their price objective on shares of ADTRAN from $9.
00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Needham & Company LLC boosted 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. 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. Finally, Craig Hallum began coverage on ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.
00 target price on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.
com, ADTRAN currently has a consensus rating of “Buy” and an average target price of $13.50.Read Our Latest Research Report on ADTRANAbout 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.Featured ArticlesFive stocks we like better than ADTRAN3 Natural Gas Stocks That Offer Great Dividend YieldsJoby Aviation: Operational Momentum vs.
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