4 hours Ago By ABMN Staff
Raymond James Financial Inc. acquired a new position in shares of ADTRAN Holdings, Inc. ( NASDAQ:ADTN – Free Report ) during the 4th quarter, Holdings Channel reports.
The firm acquired 257,591 shares of the communications equipment provider’s stock, valued at approximately $2,146,000. A number of other institutional investors also recently made changes to their positions in ADTN. Quantbot Technologies LP increased its stake in shares of ADTRAN by 104.
5% in the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock worth $124,000 after buying an additional 7,636 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of ADTRAN in the 4th quarter worth about $140,000.
Inceptionr LLC acquired a new stake in shares of ADTRAN in the 4th quarter valued at about $162,000. Catalyst Funds Management Pty Ltd lifted its position in shares of ADTRAN by 6.0% during the fourth quarter.
Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock worth $190,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in ADTRAN by 62.0% in the fourth quarter.
Intech Investment Management LLC now owns 25,038 shares of the communications equipment provider’s stock worth $209,000 after purchasing an additional 9,585 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades Several analysts have issued reports on ADTN shares. Rosenblatt Securities cut their price objective on ADTRAN from $15.00 to $11.
00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Craig Hallum began coverage on ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.
00 price target on the stock. Finally, Needham & Company LLC lifted their price objective on shares of ADTRAN from $11.00 to $14.
00 and gave the stock a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.
com, ADTRAN currently has an average rating of “Buy” and an average price target of $12.50. ADTRAN Stock Performance Shares of ADTN stock opened at $7.
66 on Thursday. The company has a market cap of $612.51 million, a P/E ratio of -1.
18 and a beta of 1.46. The business has a 50 day moving average of $8.
64 and a two-hundred day moving average of $8.73. ADTRAN Holdings, Inc.
has a 52 week low of $4.34 and a 52 week high of $12.44.
The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.
89. About ADTRAN ( Free Report ) 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. Recommended Stories Want to see what other hedge funds are holding ADTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ADTRAN Holdings, Inc.
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