SG Americas Securities LLC Lowers Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

SG Americas Securities LLC decreased its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 69.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,521 shares of the communications equipment provider’s stock after selling 32,482 shares during the quarter. SG Americas Securities LLC’s holdings in ADTRAN were worth $107,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADTN. Keeley Teton Advisors LLC lifted its stake in shares of ADTRAN by 154.6% in the third quarter. Keeley Teton Advisors LLC now owns 404,935 shares of the communications equipment provider’s stock worth $3,333,000 after buying an additional 245,911 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of ADTRAN by 57.2% in the 3rd quarter. William Blair Investment Management LLC now owns 2,405,839 shares of the communications equipment provider’s stock worth $19,800,000 after purchasing an additional 875,140 shares in the last quarter. B. Riley Asset Management LLC increased its holdings in shares of ADTRAN by 17.3% in the 3rd quarter. B. Riley Asset Management LLC now owns 360,555 shares of the communications equipment provider’s stock worth $2,967,000 after purchasing an additional 53,155 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ADTRAN in the third quarter worth $137,000. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of ADTRAN by 606.7% during the third quarter. Paradigm Capital Management Inc. NY now owns 673,900 shares of the communications equipment provider’s stock valued at $5,546,000 after purchasing an additional 578,543 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a research report on Wednesday. StockNews.com raised shares of ADTRAN to a “sell” rating in a report on Wednesday, March 6th. Finally, Rosenblatt Securities dropped their target price on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, ADTRAN currently has an average rating of “Hold” and an average target price of $10.50.

ADTRAN Stock Down 0.8 %

ADTRAN stock opened at $4.69 on Friday. The stock has a market cap of $371.07 million, a PE ratio of -1.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.34 and a current ratio of 2.64. The stock has a fifty day moving average of $5.62 and a 200 day moving average of $6.31. ADTRAN Holdings, Inc. has a one year low of $4.59 and a one year high of $11.02.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($1.01). The business had revenue of $225.48 million for the quarter, compared to analysts’ expectations of $232.45 million. ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. As a group, sell-side analysts predict that ADTRAN Holdings, Inc. will post -0.25 EPS for the current year.

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.