SG Americas Securities LLC Increases Stock Position in ADTRAN Holdings, Inc. $ADTN

SG Americas Securities LLC raised its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 53.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,316,049 shares of the communications equipment provider’s stock after acquiring an additional 459,005 shares during the period. SG Americas Securities LLC owned approximately 1.63% of ADTRAN worth $16,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of ADTRAN during the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new stake in ADTRAN in the fourth quarter valued at approximately $36,000. ST Germain D J Co. Inc. lifted its stake in ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 2,500 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in ADTRAN during the fourth quarter worth $47,000. Finally, Freestone Grove Partners LP purchased a new position in shares of ADTRAN during the fourth quarter worth $87,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Stock Performance

Shares of ADTN stock opened at $14.04 on Friday. The firm has a 50 day moving average of $15.89 and a two-hundred day moving average of $12.23. The stock has a market capitalization of $1.14 billion, a PE ratio of -36.00 and a beta of 1.42. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. ADTRAN Holdings, Inc. has a 52 week low of $7.11 and a 52 week high of $19.98.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, research analysts predict that ADTRAN Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADTN shares. Evercore assumed coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of ADTRAN in a research note on Wednesday, May 6th. Argus upgraded ADTRAN to a “hold” rating in a report on Wednesday, March 4th. B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Finally, Northland Securities set a $18.00 price target on shares of ADTRAN in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.00.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.