Paradigm Capital Management Inc. NY Grows Stock Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Paradigm Capital Management Inc. NY boosted its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 173.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,447,100 shares of the communications equipment provider’s stock after purchasing an additional 1,551,000 shares during the quarter. Paradigm Capital Management Inc. NY owned about 3.09% of ADTRAN worth $12,872,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. DRW Securities LLC acquired a new stake in shares of ADTRAN in the second quarter valued at approximately $167,000. Skandinaviska Enskilda Banken AB publ grew its holdings in ADTRAN by 21.7% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 204,261 shares of the communications equipment provider’s stock worth $1,074,000 after acquiring an additional 36,371 shares during the period. XTX Topco Ltd increased its holdings in shares of ADTRAN by 309.2% in the 2nd quarter. XTX Topco Ltd now owns 87,879 shares of the communications equipment provider’s stock valued at $462,000 after purchasing an additional 66,401 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of ADTRAN by 67.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 681,807 shares of the communications equipment provider’s stock valued at $3,586,000 after acquiring an additional 275,500 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in ADTRAN by 327.5% during the second quarter. Hsbc Holdings PLC now owns 53,065 shares of the communications equipment provider’s stock worth $282,000 after purchasing an additional 40,653 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Down 2.1 %

Shares of NASDAQ ADTN opened at $5.62 on Tuesday. The stock has a fifty day moving average price of $5.58 and a 200 day moving average price of $5.33. The company has a market cap of $444.64 million, a P/E ratio of -0.82 and a beta of 1.19. ADTRAN Holdings, Inc. has a 12-month low of $4.34 and a 12-month high of $8.56. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The company had revenue of $225.99 million for the quarter, compared to analysts’ expectations of $225.95 million. ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. Research analysts anticipate that ADTRAN Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $6.00 price target on shares of ADTRAN in a research report on Wednesday, August 7th. StockNews.com downgraded shares of ADTRAN from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.17.

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.