Tieton Capital Management LLC Sells 7,285 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Tieton Capital Management LLC reduced its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTNFree Report) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 144,879 shares of the communications equipment provider’s stock after selling 7,285 shares during the quarter. Tieton Capital Management LLC owned about 0.18% of ADTRAN worth $1,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of ADTRAN by 686.7% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,194 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 2,788 shares during the last quarter. FMR LLC raised its position in shares of ADTRAN by 41.3% in the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 574 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of ADTRAN by 165.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 1,386 shares during the last quarter. US Bancorp DE raised its position in shares of ADTRAN by 328.0% in the 2nd quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock valued at $40,000 after purchasing an additional 2,939 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in ADTRAN during the 3rd quarter worth approximately $46,000. 81.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADTN. StockNews.com raised shares of ADTRAN to a “sell” rating in a research report on Friday, November 17th. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of ADTRAN in a research report on Wednesday. Argus lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Monday, November 20th. Finally, Rosenblatt Securities raised their price target on shares of ADTRAN from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, ADTRAN has an average rating of “Hold” and a consensus price target of $15.40.

View Our Latest Stock Report on ADTRAN

ADTRAN Price Performance

ADTRAN stock opened at $6.96 on Thursday. The company’s fifty day moving average price is $6.42 and its 200 day moving average price is $7.70. ADTRAN Holdings, Inc. has a 1 year low of $4.91 and a 1 year high of $19.66. The stock has a market capitalization of $547.75 million, a P/E ratio of -5.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.42 and a current ratio of 2.73.

ADTRAN (NASDAQ:ADTNGet Free Report) last announced its earnings results on Monday, November 6th. The communications equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03). ADTRAN had a negative return on equity of 2.68% and a negative net margin of 7.93%. The business had revenue of $272.33 million for the quarter, compared to analyst estimates of $284.80 million. As a group, equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.46 earnings per share for the current fiscal year.

ADTRAN Company Profile

(Free Report)

ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.

See Also

Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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