Paradigm Capital Management Inc. NY Sells 396,709 Shares of ADTRAN Holdings, Inc. $ADTN

Paradigm Capital Management Inc. NY decreased its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 35.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 733,200 shares of the communications equipment provider’s stock after selling 396,709 shares during the quarter. Paradigm Capital Management Inc. NY’s holdings in ADTRAN were worth $9,224,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quarry LP purchased a new stake in shares of ADTRAN during the 3rd quarter valued at about $36,000. Kestra Advisory Services LLC bought a new stake in ADTRAN in the fourth quarter worth $36,000. ST Germain D J Co. Inc. boosted its stake in ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in ADTRAN during the fourth quarter worth $47,000. Finally, Freestone Grove Partners LP bought a new position in ADTRAN during the fourth quarter valued at $87,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

ADTN stock opened at $9.85 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. The business’s fifty day simple moving average is $14.30 and its two-hundred day simple moving average is $12.74. ADTRAN Holdings, Inc. has a twelve month low of $7.11 and a twelve month high of $19.98. The firm has a market cap of $802.28 million, a price-to-earnings ratio of -25.26 and a beta of 1.44.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The business had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period in the prior year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts predict that ADTRAN Holdings, Inc. will post 0.43 earnings per share for the current year.

Key Stories Impacting ADTRAN

Here are the key news stories impacting ADTRAN this week:

• Positive Sentiment: ADTRAN announced a new senior secured credit facility led by JPMorgan Chase, which should improve liquidity, lower borrowing costs, and give the company more financial flexibility. ADTRAN Strengthens Capital Structure with New Senior Secured Credit Facility
• Positive Sentiment: B. Riley and Rosenblatt both reiterated buy ratings on ADTRAN, signaling that some analysts still see substantial upside from current levels, even though B. Riley trimmed its price target.
• Neutral Sentiment: Needham lowered its price target on ADTRAN but kept a buy rating, which suggests valuation expectations have become more cautious while the longer-term outlook remains constructive.
• Negative Sentiment: A PR Newswire notice says Levi & Korsinsky is investigating whether ADTRAN adequately disclosed risks tied to customer project timing and the impact on revenue and operating results, adding a legal overhang. ADTRAN Holdings Investigation Notice
• Negative Sentiment: Investor concern may also be amplified by reports that the company’s latest preliminary results missed guidance, reinforcing worries about near-term execution and demand visibility.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADTN. Evercore started coverage on shares of ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. B. Riley Financial reiterated a “buy” rating and set a $21.00 price target (down from $23.00) on shares of ADTRAN in a report on Thursday. Wall Street Zen raised shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 20th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of ADTRAN in a research report on Thursday. Finally, Needham & Company LLC decreased their price objective on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.20.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.