ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stock Holdings Cut by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC reduced its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 23.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 29,087 shares of the communications equipment provider’s stock after selling 8,781 shares during the period. Sherbrooke Park Advisers LLC’s holdings in ADTRAN were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in ADTRAN by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,180 shares of the communications equipment provider’s stock valued at $185,000 after purchasing an additional 7,299 shares in the last quarter. Quantinno Capital Management LP boosted its stake in ADTRAN by 4.3% during the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider’s stock valued at $176,000 after purchasing an additional 877 shares in the last quarter. Man Group plc bought a new position in ADTRAN during the 4th quarter valued at $548,000. Numerai GP LLC boosted its stake in ADTRAN by 10.5% during the 4th quarter. Numerai GP LLC now owns 230,773 shares of the communications equipment provider’s stock valued at $1,922,000 after purchasing an additional 21,859 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ADTRAN by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider’s stock worth $373,000 after acquiring an additional 1,605 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

ADTRAN Stock Performance

Shares of NASDAQ ADTN opened at $8.10 on Tuesday. The stock has a market capitalization of $647.69 million, a price-to-earnings ratio of -1.24 and a beta of 1.33. The stock’s fifty day simple moving average is $8.14 and its 200 day simple moving average is $8.93. 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 52-week low of $4.62 and a 52-week high of $12.44.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, sell-side analysts forecast that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal 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.