Tieton Capital Management LLC Makes New $7.93 Million Investment in ADTRAN Holdings, Inc. $ADTN

Tieton Capital Management LLC acquired a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the 2nd quarter, Holdings Channel reports. The firm acquired 570,542 shares of the communications equipment provider’s stock, valued at approximately $7,931,000. ADTRAN comprises 2.3% of Tieton Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Persistent Asset Partners Ltd acquired a new position in ADTRAN during the 2nd quarter valued at $28,000. Quarry LP acquired a new stake in ADTRAN in the 3rd quarter worth $36,000. Kestra Advisory Services LLC bought a new position in shares of ADTRAN during the 4th quarter worth about $36,000. ST Germain D J Co. Inc. raised its position in shares of 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 valued at $43,000 after buying an additional 2,500 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of ADTRAN during the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Down 1.1%

Shares of ADTN opened at $8.01 on Thursday. The stock has a market cap of $652.65 million, a price-to-earnings ratio of -28.61 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. ADTRAN Holdings, Inc. has a 12 month low of $7.11 and a 12 month high of $19.98. The company has a 50-day moving average price of $11.46 and a two-hundred day moving average price of $12.65.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The company had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts predict that ADTRAN Holdings, Inc. will post 0.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Needham & Company LLC reduced their price objective on ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. B. Riley Financial restated a “buy” rating and set a $21.00 price objective (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Rosenblatt Securities cut their target price on ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Wall Street Zen cut ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, ADTRAN has a consensus rating of “Hold” and a consensus target price of $14.67.

ADTRAN Company Profile

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.