287,459 Shares in ADTRAN Holdings, Inc. $ADTN Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 287,459 shares of the communications equipment provider’s stock, valued at approximately $2,579,000. Y Intercept Hong Kong Ltd owned about 0.36% of ADTRAN at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in ADTRAN during the 2nd quarter worth approximately $65,000. Park Avenue Securities LLC acquired a new stake in ADTRAN during the 2nd quarter worth approximately $91,000. Ballentine Partners LLC acquired a new stake in ADTRAN during the 1st quarter worth approximately $94,000. Financial Engines Advisors L.L.C. acquired a new stake in ADTRAN during the 1st quarter worth approximately $106,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in ADTRAN during the 1st quarter worth approximately $112,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of ADTRAN in a research report on Wednesday, October 8th. Wall Street Zen cut ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Wolfe Research began coverage on ADTRAN in a report on Monday, July 7th. They issued a “peer perform” rating for the company. Finally, B. Riley began coverage on ADTRAN in a report on Thursday, September 18th. They issued a “buy” rating and a $16.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.80.

ADTRAN Stock Up 3.8%

Shares of ADTN opened at $10.54 on Friday. ADTRAN Holdings, Inc. has a one year low of $6.02 and a one year high of $12.44. The company has a market cap of $842.99 million, a P/E ratio of -8.05 and a beta of 1.37. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $9.49 and a two-hundred day simple moving average of $8.81.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 EPS for the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The business had revenue of $358.27 million during the quarter. Research analysts forecast 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.