SG Americas Securities LLC grew its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN – Free Report) by 24.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,424 shares of the communications equipment provider’s stock after buying an additional 7,011 shares during the period. SG Americas Securities LLC’s holdings in ADTRAN were worth $295,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ADTN. Blue Trust Inc. increased its position in shares of ADTRAN by 798.7% during the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 4,177 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in ADTRAN during the 3rd quarter valued at $65,000. Intech Investment Management LLC bought a new stake in shares of ADTRAN in the 3rd quarter worth $92,000. Harbor Capital Advisors Inc. raised its stake in shares of ADTRAN by 94.8% in the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock worth $112,000 after purchasing an additional 9,202 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of ADTRAN during the third quarter valued at $114,000. Institutional investors own 80.56% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Northland Securities boosted their target price on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a report on Thursday, January 16th. Craig Hallum started coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Rosenblatt Securities boosted their target price on shares of ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One 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 stock. Based on data from MarketBeat, ADTRAN has an average rating of “Buy” and a consensus price target of $12.75.
ADTRAN Stock Up 5.6 %
Shares of ADTN stock opened at $11.00 on Thursday. The company has a 50 day simple moving average of $9.27 and a two-hundred day simple moving average of $7.22. The stock has a market cap of $872.37 million, a P/E ratio of -1.69 and a beta of 1.29. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $11.23. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89.
ADTRAN Company Profile
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.
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