Graham Capital Management L.P. Boosts Stock Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Graham Capital Management L.P. grew its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 38.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,789 shares of the communications equipment provider’s stock after purchasing an additional 15,649 shares during the quarter. Graham Capital Management L.P. owned approximately 0.07% of ADTRAN worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Aquatic Capital Management LLC raised its position in ADTRAN by 1,572.5% in the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 6,290 shares during the period. SIH Partners LLLP purchased a new stake in shares of ADTRAN during the 4th quarter worth approximately $107,000. Hsbc Holdings PLC raised its holdings in shares of ADTRAN by 11.4% in the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock worth $122,000 after purchasing an additional 1,501 shares during the period. Quantbot Technologies LP raised its holdings 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 worth $124,000 after purchasing an additional 7,636 shares during the period. Finally, Magnetar Financial LLC bought a new stake in shares of ADTRAN in the 4th quarter worth approximately $140,000. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Needham & Company LLC decreased their target price on ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Rosenblatt Securities lowered their price objective on ADTRAN from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, ADTRAN presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

ADTRAN Trading Up 0.5%

Shares of ADTN stock opened at $8.19 on Friday. The stock has a market capitalization of $654.89 million, a price-to-earnings ratio of -1.26 and a beta of 1.33. The company’s fifty day simple moving average is $8.17 and its two-hundred day simple moving average is $8.86. ADTRAN Holdings, Inc. has a 1 year low of $4.62 and a 1 year high of $12.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. During the same quarter last year, the business posted $0.02 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

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.