ADTRAN Holdings, Inc. $ADTN Stock Position Decreased by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 30.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 617,388 shares of the communications equipment provider’s stock after selling 270,574 shares during the quarter. Squarepoint Ops LLC’s holdings in ADTRAN were worth $8,582,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ADTN. Persistent Asset Partners Ltd acquired a new position in ADTRAN in the second quarter valued at approximately $28,000. Quarry LP acquired a new stake in shares of ADTRAN during the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new stake in shares of ADTRAN in the 4th quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of ADTRAN in the 4th quarter worth approximately $47,000. Finally, Freestone Grove Partners LP acquired a new position in ADTRAN during the 4th quarter valued at approximately $87,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Trading Down 0.3%

Shares of ADTN stock opened at $7.18 on Friday. ADTRAN Holdings, Inc. has a 1 year low of $7.02 and a 1 year high of $19.98. The firm has a market capitalization of $585.03 million, a PE ratio of -25.64, a price-to-earnings-growth ratio of 4.41 and a beta of 1.47. The stock has a fifty day moving average of $9.25 and a two-hundred day moving average of $12.38. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.19 and a current ratio of 1.79.

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

Analyst Ratings Changes

A number of brokerages recently commented on ADTN. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research note on Tuesday, June 30th. Zacks Research downgraded shares of ADTRAN from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Rosenblatt Securities lowered their price target on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Northland Securities set a $15.00 price objective on shares of ADTRAN in a report on Wednesday, August 5th. Finally, Craig Hallum set a $12.00 price objective on shares of ADTRAN in a research report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.67.

About ADTRAN

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.