Nisa Investment Advisors LLC Increases Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Nisa Investment Advisors LLC increased its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 20,809.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,900 shares of the communications equipment provider’s stock after purchasing an additional 6,867 shares during the period. Nisa Investment Advisors LLC’s holdings in ADTRAN were worth $51,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in ADTRAN by 41.3% during the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 574 shares during the period. Tower Research Capital LLC TRC boosted its position in ADTRAN by 165.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 1,386 shares during the period. Macquarie Group Ltd. purchased a new stake in ADTRAN during the 3rd quarter valued at $46,000. US Bancorp DE boosted its position in ADTRAN by 328.0% during the 2nd quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 2,939 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in ADTRAN during the 2nd quarter valued at $72,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Down 0.8 %

Shares of NASDAQ ADTN opened at $4.69 on Monday. The company has a current ratio of 2.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.33. ADTRAN Holdings, Inc. has a 12 month low of $4.59 and a 12 month high of $11.02. The firm has a market capitalization of $371.07 million, a PE ratio of -1.47 and a beta of 1.13. The firm has a fifty day simple moving average of $5.62 and a two-hundred day simple moving average of $6.29.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data 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 company had revenue of $225.48 million during the quarter, compared to the consensus estimate of $232.45 million. ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. Equities analysts expect that ADTRAN Holdings, Inc. will post -0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ADTN. StockNews.com raised shares of ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. Rosenblatt Securities decreased their price objective on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.50.

ADTRAN 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.