Park Avenue Securities LLC Acquires New Stake in ADTRAN Holdings, Inc. $ADTN

Park Avenue Securities LLC acquired a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 10,130 shares of the communications equipment provider’s stock, valued at approximately $91,000.

Several other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after acquiring an additional 1,946 shares in the last quarter. Two Sigma Investments LP lifted its position in ADTRAN by 5.6% in the 4th quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider’s stock valued at $808,000 after acquiring an additional 5,168 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in ADTRAN in the 1st quarter valued at $65,000. CWM LLC lifted its position in ADTRAN by 159.6% in the 1st quarter. CWM LLC now owns 13,360 shares of the communications equipment provider’s stock valued at $116,000 after acquiring an additional 8,214 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in ADTRAN in the 1st quarter valued at $94,000. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Wolfe Research assumed coverage on shares of ADTRAN in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. Finally, B. Riley assumed coverage on shares of ADTRAN in a research report on Thursday, September 18th. They set a “buy” rating and a $16.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.80.

ADTRAN Stock Down 2.6%

Shares of ADTN opened at $9.29 on Friday. ADTRAN Holdings, Inc. has a 52 week low of $5.67 and a 52 week high of $12.44. The firm has a market cap of $743.00 million, a P/E ratio of -7.09 and a beta of 1.37. The firm’s 50-day simple moving average is $9.30 and its 200 day simple moving average is $8.68. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96.

ADTRAN (NASDAQ:ADTN) last announced 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 company had revenue of $265.07 million during the quarter, compared to analyst estimates of $255.57 million. During the same quarter last year, the company posted ($0.24) EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts forecast that ADTRAN Holdings, Inc. will post -0.5 earnings per share 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.