Everence Capital Management Inc. Has $249,000 Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Everence Capital Management Inc. boosted its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 142.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,940 shares of the communications equipment provider’s stock after buying an additional 19,960 shares during the quarter. Everence Capital Management Inc.’s holdings in ADTRAN were worth $249,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its position in ADTRAN by 41.3% during the second quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 574 shares during the last quarter. Tower Research Capital LLC TRC increased its position 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. Macquarie Group Ltd. acquired a new stake in shares of ADTRAN in the third quarter valued at about $46,000. US Bancorp DE grew its position in shares of ADTRAN by 328.0% in the second quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock valued at $40,000 after purchasing an additional 2,939 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of ADTRAN in the second quarter valued at about $72,000. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Stock Up 1.7 %

NASDAQ ADTN opened at $4.73 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.34 and a current ratio of 2.64. The firm has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $6.34. ADTRAN Holdings, Inc. has a twelve month low of $4.59 and a twelve month high of $11.02. The stock has a market cap of $374.22 million, a PE ratio of -1.48 and a beta of 1.13.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($1.01). ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. The company had revenue of $225.48 million during the quarter, compared to the consensus estimate of $232.45 million. On average, research analysts forecast that ADTRAN Holdings, Inc. will post -0.25 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of ADTRAN in a research report on Wednesday. StockNews.com raised ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. Finally, Rosenblatt Securities lowered their price target on ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. One equities research 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. Based on data from MarketBeat.com, ADTRAN has a consensus rating of “Hold” and a consensus target price of $10.50.

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.