Quantbot Technologies LP Has $43,000 Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Quantbot Technologies LP decreased its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 85.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,309 shares of the communications equipment provider’s stock after selling 41,527 shares during the period. Quantbot Technologies LP’s holdings in ADTRAN were worth $43,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of ADTRAN by 26.4% in the 2nd quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock worth $3,579,000 after acquiring an additional 142,100 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its holdings in shares of ADTRAN by 173.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock valued at $12,872,000 after purchasing an additional 1,551,000 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of ADTRAN during the second quarter valued at approximately $681,000. Divisar Capital Management LLC boosted its position in shares of ADTRAN by 25.0% during the second quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider’s stock valued at $30,195,000 after buying an additional 1,146,774 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in ADTRAN by 99.3% during the third quarter. GSA Capital Partners LLP now owns 491,414 shares of the communications equipment provider’s stock worth $2,914,000 after buying an additional 244,901 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ADTN shares. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Rosenblatt Securities upgraded shares of ADTRAN from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $6.00 to $10.00 in a report on Friday, November 8th. Finally, Needham & Company LLC increased their price objective on shares of ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $9.50.

ADTRAN Stock Performance

NASDAQ ADTN opened at $8.43 on Friday. The company has a 50-day simple moving average of $7.04 and a 200 day simple moving average of $6.01. ADTRAN Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $9.05. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The company has a market capitalization of $668.58 million, a PE ratio of -1.29 and a beta of 1.29.

ADTRAN Company Profile

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.