Hillsdale Investment Management Inc. Acquires 148,220 Shares of ADTRAN Holdings, Inc. $ADTN

Hillsdale Investment Management Inc. boosted its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 38.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 534,320 shares of the communications equipment provider’s stock after acquiring an additional 148,220 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in ADTRAN were worth $4,793,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ADTN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 1,946 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in ADTRAN by 19.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,531 shares of the communications equipment provider’s stock valued at $175,000 after purchasing an additional 3,217 shares during the last quarter. SG Americas Securities LLC increased its holdings in ADTRAN by 1.4% in the second quarter. SG Americas Securities LLC now owns 237,207 shares of the communications equipment provider’s stock valued at $2,128,000 after purchasing an additional 3,370 shares during the last quarter. Creative Planning lifted its stake in ADTRAN by 5.7% in the second quarter. Creative Planning now owns 63,774 shares of the communications equipment provider’s stock valued at $572,000 after buying an additional 3,424 shares during the period. Finally, Inspire Investing LLC boosted its holdings in ADTRAN by 9.8% during the second quarter. Inspire Investing LLC now owns 43,766 shares of the communications equipment provider’s stock worth $393,000 after buying an additional 3,921 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ADTN. Weiss Ratings restated a “sell (e+)” rating on shares of ADTRAN in a research report on Wednesday, October 8th. Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. B. Riley started coverage on shares of ADTRAN in a report on Thursday, September 18th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $11.00 price target on shares of ADTRAN in a research report on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ADTRAN currently has an average rating of “Moderate Buy” and an average target price of $12.80.

ADTRAN Price Performance

Shares of ADTN opened at $7.25 on Friday. The stock has a 50 day simple moving average of $8.97 and a 200 day simple moving average of $8.86. ADTRAN Holdings, Inc. has a 52-week low of $6.93 and a 52-week high of $12.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The firm has a market capitalization of $580.84 million, a PE ratio of -5.53 and a beta of 1.41.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Friday, March 15th. The communications equipment provider reported $0.89 EPS for the quarter. The firm had revenue of $358.27 million for the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. Sell-side analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

About ADTRAN

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.