SG Americas Securities LLC Cuts Stock Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

SG Americas Securities LLC lowered its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 69.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,521 shares of the communications equipment provider’s stock after selling 32,482 shares during the period. SG Americas Securities LLC’s holdings in ADTRAN were worth $107,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. FMR LLC boosted its position in ADTRAN by 41.3% in the second quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 574 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in ADTRAN by 165.6% during the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 1,386 shares during the last quarter. US Bancorp DE raised its position in ADTRAN by 328.0% in the second quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 2,939 shares during the period. Macquarie Group Ltd. purchased a new position in ADTRAN in the third quarter valued at about $46,000. Finally, PNC Financial Services Group Inc. boosted its stake in ADTRAN by 31.3% in the second quarter. PNC Financial Services Group Inc. now owns 6,754 shares of the communications equipment provider’s stock valued at $71,000 after acquiring an additional 1,611 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ADTN. Rosenblatt Securities lowered their price target on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price target on shares of ADTRAN in a research report on Wednesday. Finally, StockNews.com raised ADTRAN to a “sell” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.50.

ADTRAN Trading Down 0.8 %

NASDAQ:ADTN opened at $4.69 on Friday. ADTRAN Holdings, Inc. has a 1 year low of $4.59 and a 1 year high of $11.02. The stock’s fifty day moving average price is $5.62 and its two-hundred day moving average price is $6.31. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.64 and a quick ratio of 1.34. The company has a market cap of $371.07 million, a P/E ratio of -1.47 and a beta of 1.13.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.01). The company had revenue of $225.48 million for the quarter, compared to analysts’ expectations of $232.45 million. ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. As a group, analysts expect that ADTRAN Holdings, Inc. will post -0.25 EPS for the current year.

ADTRAN Company Profile

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.