Quantbot Technologies LP Raises Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Quantbot Technologies LP boosted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 104.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,945 shares of the communications equipment provider’s stock after purchasing an additional 7,636 shares during the period. Quantbot Technologies LP’s holdings in ADTRAN were worth $124,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC purchased a new position in ADTRAN during the 3rd quarter worth approximately $92,000. Point72 Asset Management L.P. purchased a new stake in ADTRAN in the 3rd quarter worth approximately $114,000. Quantinno Capital Management LP acquired a new stake in shares of ADTRAN during the 3rd quarter worth approximately $120,000. State Street Corp grew its position in ADTRAN by 2.8% during the third quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock valued at $10,484,000 after buying an additional 48,542 shares during the period. Finally, Barclays PLC increased its holdings in ADTRAN by 11.4% in the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after buying an additional 11,880 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Performance

NASDAQ:ADTN opened at $8.90 on Monday. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $12.44. The firm has a market capitalization of $710.75 million, a price-to-earnings ratio of -1.37 and a beta of 1.29. The company’s 50-day moving average is $10.18 and its two-hundred day moving average is $8.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17.

Analysts Set New Price Targets

Several analysts have commented on ADTN shares. Needham & Company LLC raised their price objective on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of ADTRAN in a research report on Friday, February 28th. Craig Hallum initiated coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Northland Securities upped their price target on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ADTRAN has a consensus rating of “Buy” and an average price target of $13.50.

ADTRAN Company Profile

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.