Eqis Capital Management Inc. decreased its position in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 12.4% in the 3rd quarter, Holdings Channel reports. The firm owned 44,674 shares of the communications equipment provider’s stock after selling 6,344 shares during the quarter. Eqis Capital Management Inc.’s holdings in ADTRAN were worth $458,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ADTN. Bank of Montreal Can raised its holdings in ADTRAN by 1,082.9% during the 2nd quarter. Bank of Montreal Can now owns 5,335 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 4,884 shares during the last quarter. Jane Street Group LLC bought a new position in ADTRAN during the 2nd quarter worth approximately $111,000. First Quadrant L P CA bought a new position in ADTRAN during the 2nd quarter worth approximately $119,000. Trexquant Investment LP acquired a new stake in shares of ADTRAN during the 2nd quarter worth approximately $121,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of ADTRAN by 197.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 12,560 shares of the communications equipment provider’s stock worth $129,000 after buying an additional 8,341 shares during the period. Hedge funds and other institutional investors own 86.00% of the company’s stock.
Shares of ADTN opened at $12.17 on Friday. The firm has a market cap of $583.63 million, a P/E ratio of -35.79 and a beta of 1.29. The stock has a 50 day simple moving average of $11.54 and a two-hundred day simple moving average of $11.27. ADTRAN, Inc. has a 1 year low of $4.80 and a 1 year high of $13.20.
ADTRAN (NASDAQ:ADTN) last issued its earnings results on Saturday, November 7th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.09. ADTRAN had a negative return on equity of 0.30% and a negative net margin of 3.33%. As a group, equities research analysts anticipate that ADTRAN, Inc. will post 0.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a $0.09 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.36 annualized dividend and a yield of 2.96%. ADTRAN’s payout ratio is currently -3,600.00%.
ADTN has been the topic of a number of recent analyst reports. TheStreet upgraded ADTRAN from a “d+” rating to a “c” rating in a research note on Monday, August 10th. BidaskClub raised ADTRAN from a “sell” rating to a “hold” rating in a report on Thursday, October 22nd. Needham & Company LLC assumed coverage on ADTRAN in a report on Monday, August 10th. They set a “hold” rating for the company. Jefferies Financial Group raised ADTRAN from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $16.50 in a report on Wednesday, November 4th. Finally, Northland Securities reissued a “buy” rating and set a $16.00 price objective on shares of ADTRAN in a report on Thursday, August 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. ADTRAN presently has an average rating of “Buy” and a consensus target price of $12.90.
ADTRAN, Inc provides networking and communications equipment for service providers, cable/multiple system operators, and distributed enterprises in the United States and internationally. The company operates through Network Solutions, and Services & Support segments. It offers fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; network management and subscriber services control and orchestration software; software defined networking -controlled programmable network elements; fiber to the distribution point units; optical line terminals and transport solutions; optical networking edge aggregation; IP digital subscriber line access multiplexers; cabinet and outside-plant enclosures and services; transceivers, cables, and other miscellaneous materials; and other products, software, and services.
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