ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 127.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,824 shares of the communications equipment provider’s stock after buying an additional 33,564 shares during the period. Balyasny Asset Management L.P.’s holdings in ADTRAN were worth $498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Catalyst Funds Management Pty Ltd raised its holdings 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. Hsbc Holdings PLC raised its holdings in shares of ADTRAN by 11.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock worth $122,000 after purchasing an additional 1,501 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of ADTRAN by 0.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider’s stock worth $2,320,000 after purchasing an additional 1,670 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of ADTRAN by 2.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 220,401 shares of the communications equipment provider’s stock worth $1,829,000 after purchasing an additional 5,382 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in ADTRAN by 6.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,986 shares of the communications equipment provider’s stock valued at $825,000 after buying an additional 6,121 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADTN shares. Needham & Company LLC cut their price objective on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 9th. Rosenblatt Securities cut their price objective on shares of ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

ADTRAN Stock Up 0.5%

ADTN opened at $8.19 on Friday. ADTRAN Holdings, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $12.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The company has a fifty day moving average of $8.17 and a two-hundred day moving average of $8.86. The stock has a market capitalization of $654.89 million, a price-to-earnings ratio of -1.26 and a beta of 1.33.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 earnings per share. On average, research analysts expect that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

ADTRAN 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.