ADTRAN Holdings, Inc. $ADTN Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,478,621 shares of the communications equipment provider’s stock after selling 257,809 shares during the period. William Blair Investment Management LLC owned about 3.09% of ADTRAN worth $21,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new stake in ADTRAN in the fourth quarter valued at about $111,000. GSA Capital Partners LLP lifted its position in ADTRAN by 130.5% in the fourth quarter. GSA Capital Partners LLP now owns 157,156 shares of the communications equipment provider’s stock valued at $1,366,000 after purchasing an additional 88,962 shares during the period. DNB Asset Management AS lifted its position in ADTRAN by 7.6% in the fourth quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock valued at $27,145,000 after purchasing an additional 219,810 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in ADTRAN in the fourth quarter valued at about $563,000. Finally, Versor Investments LP lifted its position in ADTRAN by 286.0% in the fourth quarter. Versor Investments LP now owns 60,600 shares of the communications equipment provider’s stock valued at $527,000 after purchasing an additional 44,900 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Performance

Shares of ADTRAN stock opened at $15.67 on Tuesday. ADTRAN Holdings, Inc. has a 12-month low of $7.11 and a 12-month high of $18.69. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. The stock has a market cap of $1.27 billion, a PE ratio of -40.18 and a beta of 1.45. The company has a 50-day moving average of $14.45 and a two-hundred day moving average of $10.93.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating 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 company had revenue of $286.09 million during the quarter, compared to analysts’ expectations of $285.48 million. During the same period last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that ADTRAN Holdings, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADTN. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Northland Securities set a $18.00 target price on shares of ADTRAN in a report on Wednesday, May 6th. B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Wall Street Zen cut shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Finally, Argus raised shares of ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.00.

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.