SG Americas Securities LLC Purchases 7,011 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

SG Americas Securities LLC raised its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 24.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,424 shares of the communications equipment provider’s stock after acquiring an additional 7,011 shares during the period. SG Americas Securities LLC’s holdings in ADTRAN were worth $295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 4,177 shares during the last quarter. Park Avenue Securities LLC bought a new stake in ADTRAN in the third quarter valued at approximately $65,000. Intech Investment Management LLC purchased a new stake in shares of ADTRAN during the third quarter valued at approximately $92,000. Harbor Capital Advisors Inc. boosted its stake in shares of ADTRAN by 94.8% during the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after purchasing an additional 9,202 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of ADTRAN in the third quarter worth approximately $114,000. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Trading Up 5.6 %

Shares of ADTN opened at $11.00 on Thursday. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $11.23. The firm has a market capitalization of $872.37 million, a price-to-earnings ratio of -1.69 and a beta of 1.29. The firm’s 50-day moving average price is $9.27 and its 200-day moving average price is $7.22. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ADTN shares. Rosenblatt Securities increased their price target on shares of ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Northland Securities increased their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Craig Hallum started coverage on ADTRAN in a report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of ADTRAN in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $12.75.

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.