Inspire Investing LLC Sells 8,616 Shares of ADTRAN Holdings, Inc. $ADTN

Inspire Investing LLC reduced its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 17.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 39,845 shares of the communications equipment provider’s stock after selling 8,616 shares during the period. Inspire Investing LLC’s holdings in ADTRAN were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in ADTRAN by 4.3% in the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 877 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ADTRAN by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider’s stock valued at $373,000 after buying an additional 1,605 shares during the period. Two Sigma Investments LP increased its position in shares of ADTRAN by 5.6% during the fourth quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider’s stock valued at $808,000 after buying an additional 5,168 shares during the period. ProShare Advisors LLC increased its position in shares of ADTRAN by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,180 shares of the communications equipment provider’s stock valued at $185,000 after buying an additional 7,299 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of ADTRAN during the first quarter valued at about $65,000. 80.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on ADTRAN in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. Wall Street Zen cut ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.00.

ADTRAN Stock Down 4.7%

Shares of NASDAQ ADTN opened at $10.11 on Monday. ADTRAN Holdings, Inc. has a one year low of $5.26 and a one year high of $12.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $9.29 and its two-hundred day simple moving average is $8.67. The stock has a market capitalization of $808.58 million, a P/E ratio of -7.72 and a beta of 1.39.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The business had revenue of $265.07 million for the quarter, compared to the consensus estimate of $255.57 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. As a group, analysts expect that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal 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.