JPMorgan Chase & Co. increased its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN – Free Report) by 12.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,914 shares of the communications equipment provider’s stock after purchasing an additional 13,478 shares during the period. JPMorgan Chase & Co. owned 0.16% of ADTRAN worth $741,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of ADTRAN by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after acquiring an additional 63,960 shares in the last quarter. State Street Corp raised its position in shares of ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock valued at $10,484,000 after acquiring an additional 48,542 shares in the last quarter. Millennium Management LLC lifted its stake in ADTRAN by 8,824.3% during the second quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider’s stock worth $8,151,000 after purchasing an additional 1,532,257 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in ADTRAN by 20.9% in the third quarter. Kovack Advisors Inc. now owns 778,850 shares of the communications equipment provider’s stock worth $4,619,000 after purchasing an additional 134,900 shares during the period. Finally, Renaissance Technologies LLC increased its stake in ADTRAN by 26.4% during the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after purchasing an additional 142,100 shares during the last quarter. 80.56% of the stock is owned by institutional investors.
ADTRAN Price Performance
Shares of NASDAQ:ADTN opened at $10.31 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The firm’s 50 day moving average is $8.95 and its two-hundred day moving average is $7.00. The firm has a market capitalization of $817.69 million, a P/E ratio of -1.58 and a beta of 1.28. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $11.23.
Analyst Upgrades and Downgrades
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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.
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