ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTNGet Rating) by 31.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,314,369 shares of the communications equipment provider’s stock after selling 614,678 shares during the quarter. Victory Capital Management Inc.’s holdings in ADTRAN were worth $24,238,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ADTN. Allspring Global Investments Holdings LLC acquired a new stake in shares of ADTRAN during the fourth quarter worth about $483,000. Yousif Capital Management LLC acquired a new stake in shares of ADTRAN during the fourth quarter worth about $1,049,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ADTRAN by 22.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,142 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 1,119 shares in the last quarter. Bernzott Capital Advisors lifted its position in shares of ADTRAN by 22.3% during the fourth quarter. Bernzott Capital Advisors now owns 1,300,954 shares of the communications equipment provider’s stock worth $29,701,000 after purchasing an additional 237,355 shares in the last quarter. Finally, ACT Capital Management LLC acquired a new stake in ADTRAN in the fourth quarter valued at approximately $2,625,000. Institutional investors and hedge funds own 94.06% of the company’s stock.

ADTRAN Stock Up 1.3 %

Shares of ADTRAN stock opened at $24.70 on Thursday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -112.27 and a beta of 1.37. ADTRAN Holdings, Inc. has a 52 week low of $16.30 and a 52 week high of $24.90. The firm’s 50 day moving average is $20.04 and its two-hundred day moving average is $19.30.

ADTRAN (NASDAQ:ADTNGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The communications equipment provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.02 by $0.15. The company had revenue of $154.52 million for the quarter, compared to analyst estimates of $154.00 million. ADTRAN had a negative net margin of 1.81% and a positive return on equity of 4.27%. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, research analysts expect that ADTRAN Holdings, Inc. will post 0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADTN shares. Needham & Company LLC started coverage on shares of ADTRAN in a report on Thursday, July 14th. They issued a “buy” rating and a $28.00 target price on the stock. Rosenblatt Securities raised their target price on shares of ADTRAN from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.17.

ADTRAN Company Profile

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ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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