Quantbot Technologies LP Increases Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Quantbot Technologies LP increased its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 104.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,945 shares of the communications equipment provider’s stock after purchasing an additional 7,636 shares during the period. Quantbot Technologies LP’s holdings in ADTRAN were worth $124,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADTN. Magnetar Financial LLC purchased a new position in ADTRAN in the 4th quarter worth about $140,000. Intech Investment Management LLC grew its position in ADTRAN by 62.0% during the fourth quarter. Intech Investment Management LLC now owns 25,038 shares of the communications equipment provider’s stock valued at $209,000 after buying an additional 9,585 shares during the period. William Blair Investment Management LLC increased its holdings in ADTRAN by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider’s stock valued at $38,711,000 after buying an additional 114,986 shares during the last quarter. Royce & Associates LP purchased a new stake in ADTRAN in the fourth quarter worth about $4,061,000. Finally, Catalyst Funds Management Pty Ltd raised its stake in shares of ADTRAN by 6.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock worth $190,000 after buying an additional 1,300 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Trading Down 3.5 %

ADTN opened at $8.90 on Monday. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average is $10.18 and its two-hundred day moving average is $8.44. The company has a market capitalization of $710.75 million, a P/E ratio of -1.37 and a beta of 1.29. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $12.44.

Analyst Ratings Changes

ADTN has been the subject of a number of recent analyst reports. Northland Securities upped their price target on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of ADTRAN in a report on Friday, February 28th. Craig Hallum began coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 target price for the company. Finally, Needham & Company LLC increased their price objective on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $13.50.

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.