ADTRAN Sees Unusually High Options Volume (NASDAQ:ADTN)

ADTRAN, Inc. (NASDAQ:ADTN) was the target of some unusual options trading activity on Wednesday. Investors bought 2,735 put options on the company. This is an increase of 1,209% compared to the typical volume of 209 put options.

A number of analysts have recently issued reports on the stock. Cowen raised shares of ADTRAN from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $22.17 to $29.00 in a research note on Friday, August 6th. The Goldman Sachs Group raised their target price on shares of ADTRAN from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, August 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, ADTRAN currently has a consensus rating of “Buy” and an average price target of $22.14.

In other ADTRAN news, Director Balan Nair bought 4,773 shares of ADTRAN stock in a transaction on Tuesday, November 9th. The stock was acquired at an average cost of $20.95 per share, with a total value of $99,994.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.35% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in ADTN. Nuveen Asset Management LLC lifted its holdings in shares of ADTRAN by 0.5% in the 1st quarter. Nuveen Asset Management LLC now owns 233,178 shares of the communications equipment provider’s stock worth $3,889,000 after acquiring an additional 1,273 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of ADTRAN by 118.8% in the 1st quarter. Captrust Financial Advisors now owns 6,773 shares of the communications equipment provider’s stock worth $113,000 after acquiring an additional 3,678 shares during the last quarter. State of Wisconsin Investment Board bought a new stake in ADTRAN during the 1st quarter valued at about $2,734,000. Teachers Retirement System of The State of Kentucky lifted its holdings in ADTRAN by 51.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 13,547 shares of the communications equipment provider’s stock valued at $226,000 after buying an additional 4,600 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in ADTRAN by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 332,229 shares of the communications equipment provider’s stock valued at $5,542,000 after buying an additional 2,331 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

ADTN stock traded down $0.41 during trading on Wednesday, hitting $21.55. 301,174 shares of the company’s stock traded hands, compared to its average volume of 308,141. ADTRAN has a 52 week low of $12.42 and a 52 week high of $24.76. The business has a fifty day simple moving average of $19.55 and a 200 day simple moving average of $20.48. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 538.75 and a beta of 1.36.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Monday, November 1st. The communications equipment provider reported ($0.02) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). ADTRAN had a net margin of 0.31% and a return on equity of 3.51%. The business had revenue of $138.08 million during the quarter, compared to analyst estimates of $138.00 million. During the same quarter last year, the business earned $0.14 earnings per share. As a group, analysts expect that ADTRAN will post 0.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 30th. Stockholders of record on Tuesday, November 16th will be issued a $0.09 dividend. The ex-dividend date is Monday, November 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.67%. ADTRAN’s dividend payout ratio (DPR) is presently 900.00%.

About ADTRAN

ADTRAN, Inc engages in the provision of networking and communications platforms and services focused on the broadband access market. It operates through the Network Solutions and Services and Support business segment. The Network Solutions segment includes hardware products and next-generation virtualized solutions used in service provider or business networks, as well as prior-generation products.

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