Bienville Capital Management LLC Makes New $1.77 Million Investment in ADTRAN Holdings, Inc. $ADTN

Bienville Capital Management LLC purchased a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 127,247 shares of the communications equipment provider’s stock, valued at approximately $1,769,000. Bienville Capital Management LLC owned approximately 0.16% of ADTRAN as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new position in ADTRAN in the 2nd quarter worth $27,000. Persistent Asset Partners Ltd bought a new stake in ADTRAN in the second quarter worth $28,000. Quarry LP purchased a new stake in ADTRAN during the third quarter valued at about $36,000. Kestra Advisory Services LLC purchased a new stake in ADTRAN during the fourth quarter valued at about $36,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of ADTRAN during the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Down 5.0%

Shares of NASDAQ:ADTN opened at $7.20 on Thursday. The stock’s 50-day moving average is $9.36 and its 200 day moving average is $12.40. The company has a market cap of $586.66 million, a PE ratio of -25.71, a P/E/G ratio of 4.64 and a beta of 1.47. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.19. ADTRAN Holdings, Inc. has a 1 year low of $7.04 and a 1 year high of $19.98.

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 positive return on equity of 14.24% and a negative net margin of 2.29%.The business had revenue of $281.15 million during the quarter, compared to analysts’ expectations of $290.19 million. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that ADTRAN Holdings, Inc. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

ADTN has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research note on Tuesday, June 30th. Northland Securities set a $15.00 price target on ADTRAN in a research report on Wednesday, August 5th. B. Riley Financial reaffirmed a “buy” rating and issued a $21.00 price target (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Needham & Company LLC lowered 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. Finally, Wall Street Zen lowered ADTRAN from a “buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.