Susquehanna Fundamental Investments LLC Buys Shares of 119,708 ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Susquehanna Fundamental Investments LLC purchased a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 119,708 shares of the communications equipment provider’s stock, valued at approximately $997,000. Susquehanna Fundamental Investments LLC owned approximately 0.15% of ADTRAN at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ADTN. Barclays PLC raised its position in ADTRAN by 11.4% during the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after acquiring an additional 11,880 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ADTRAN by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider’s stock valued at $741,000 after purchasing an additional 13,478 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of ADTRAN by 39.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after purchasing an additional 263,156 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of ADTRAN by 24.7% in the 4th quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock valued at $295,000 after purchasing an additional 7,011 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its holdings in ADTRAN by 2.7% in the fourth quarter. Kovack Advisors Inc. now owns 799,950 shares of the communications equipment provider’s stock worth $6,664,000 after purchasing an additional 21,100 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Trading Up 1.7 %

ADTRAN stock opened at $7.79 on Friday. The business has a 50 day moving average price of $8.59 and a two-hundred day moving average price of $8.74. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a 12 month low of $4.54 and a 12 month high of $12.44. The stock has a market cap of $622.90 million, a price-to-earnings ratio of -1.20 and a beta of 1.46.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ADTN shares. Craig Hallum initiated coverage on ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target for the company. Needham & Company LLC boosted their target price on ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Rosenblatt Securities lowered their price target on ADTRAN from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ADTRAN presently has an average rating of “Buy” and a consensus target price of $12.50.

About ADTRAN

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.