Creative Planning Has $290,000 Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Creative Planning increased its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 155.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,166 shares of the communications equipment provider’s stock after acquiring an additional 33,548 shares during the period. Creative Planning owned about 0.07% of ADTRAN worth $290,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new position in ADTRAN during the 2nd quarter worth about $69,000. SG Americas Securities LLC bought a new position in shares of ADTRAN during the second quarter worth about $90,000. PEAK6 Investments LLC grew its holdings in shares of ADTRAN by 28.5% during the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock worth $96,000 after buying an additional 3,911 shares in the last quarter. AQR Capital Management LLC acquired a new stake in ADTRAN in the 2nd quarter valued at approximately $120,000. Finally, Versor Investments LP lifted its stake in ADTRAN by 36.5% in the 2nd quarter. Versor Investments LP now owns 30,300 shares of the communications equipment provider’s stock valued at $159,000 after acquiring an additional 8,100 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADTN. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.00 price target on shares of ADTRAN in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a research report on Thursday, August 8th. Finally, StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.17.

ADTRAN Trading Up 0.2 %

Shares of ADTRAN stock opened at $6.32 on Friday. The stock has a market cap of $500.02 million, a P/E ratio of -0.92 and a beta of 1.19. ADTRAN Holdings, Inc. has a 12-month low of $4.34 and a 12-month high of $7.66. The business’s 50 day moving average is $5.57 and its 200-day moving average is $5.39. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.86.

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

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.