ADTRAN (NASDAQ:ADTN) CFO Timothy Santo Buys 6,150 Shares

ADTRAN Holdings, Inc. (NASDAQ:ADTN) CFO Timothy Santo acquired 6,150 shares of the company’s stock in a transaction on Friday, November 28th. The shares were purchased at an average cost of $8.02 per share, with a total value of $49,323.00. Following the completion of the purchase, the chief financial officer directly owned 26,594 shares of the company’s stock, valued at $213,283.88. This trade represents a 30.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ADTRAN Trading Down 0.1%

Shares of ADTN traded down $0.01 during midday trading on Monday, hitting $7.92. The stock had a trading volume of 587,658 shares, compared to its average volume of 1,316,264. ADTRAN Holdings, Inc. has a 1 year low of $6.93 and a 1 year high of $12.44. The firm has a market cap of $634.52 million, a PE ratio of -6.05 and a beta of 1.41. 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 stock’s 50 day moving average is $8.81 and its 200 day moving average is $8.86.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share (EPS) for the quarter. The firm had revenue of $358.27 million during the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. As a group, analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Analyst Ratings Changes

ADTN has been the subject of a number of research analyst reports. Wall Street Zen lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $11.00 target price on shares of ADTRAN in a research note on Wednesday, November 5th. B. Riley began coverage on shares of ADTRAN in a report on Thursday, September 18th. They issued a “buy” rating and a $16.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ADTRAN in a research note on Wednesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of ADTRAN in a research report on Tuesday, November 25th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.80.

Hedge Funds Weigh In On ADTRAN

Institutional investors have recently bought and sold shares of the business. Swiss National Bank acquired a new stake in ADTRAN in the first quarter worth about $1,273,000. Raymond James Financial Inc. grew its position in ADTRAN by 47.9% during the 1st quarter. Raymond James Financial Inc. now owns 380,898 shares of the communications equipment provider’s stock worth $3,321,000 after purchasing an additional 123,307 shares during the period. Invesco Ltd. lifted its holdings in shares of ADTRAN by 325.4% in the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider’s stock valued at $10,317,000 after buying an additional 905,056 shares during the period. Ieq Capital LLC purchased a new stake in shares of ADTRAN in the first quarter worth about $209,000. Finally, Russell Investments Group Ltd. grew its holdings in ADTRAN by 257.3% during the first quarter. Russell Investments Group Ltd. now owns 75,162 shares of the communications equipment provider’s stock worth $655,000 after acquiring an additional 54,125 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.