Tudor Investment Corp ET AL Boosts Holdings in ADTRAN Holdings, Inc. $ADTN

Tudor Investment Corp ET AL grew its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 434.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 897,115 shares of the communications equipment provider’s stock after buying an additional 729,194 shares during the quarter. Tudor Investment Corp ET AL owned 1.12% of ADTRAN worth $8,415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in ADTRAN by 253.7% in the first quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock valued at $3,039,000 after acquiring an additional 249,954 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 purchasing an additional 1,946 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in ADTRAN by 19.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,531 shares of the communications equipment provider’s stock worth $175,000 after buying an additional 3,217 shares in the last quarter. Creative Planning grew its position in ADTRAN by 5.7% during the second quarter. Creative Planning now owns 63,774 shares of the communications equipment provider’s stock valued at $572,000 after buying an additional 3,424 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its holdings in ADTRAN by 22.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 56,298 shares of the communications equipment provider’s stock valued at $505,000 after buying an additional 10,272 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Stock Performance

NASDAQ ADTN opened at $11.46 on Monday. The company has a market cap of $924.36 million, a P/E ratio of -22.47 and a beta of 1.37. ADTRAN Holdings, Inc. has a 1-year low of $6.93 and a 1-year high of $12.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.76 and a quick ratio of 1.16. The stock has a 50-day moving average of $9.93 and a two-hundred day moving average of $9.26.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $291.56 million during the quarter, compared to analysts’ expectations of $281.12 million. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

ADTN has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of ADTRAN in a research report on Thursday, February 26th. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Rosenblatt Securities boosted their price target on shares of ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Argus upgraded shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.33.

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.