Massachusetts Financial Services Co. MA Grows Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Massachusetts Financial Services Co. MA grew its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 71,403 shares of the communications equipment provider’s stock after acquiring an additional 2,396 shares during the period. Massachusetts Financial Services Co. MA’s holdings in ADTRAN were worth $376,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its stake in ADTRAN by 17.9% during the 2nd quarter. American Century Companies Inc. now owns 90,343 shares of the communications equipment provider’s stock worth $475,000 after buying an additional 13,688 shares during the period. Versor Investments LP increased its stake in ADTRAN by 36.5% during the 2nd quarter. Versor Investments LP now owns 30,300 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 8,100 shares during the period. Assenagon Asset Management S.A. purchased a new stake in ADTRAN during the 2nd quarter worth approximately $212,000. SG Americas Securities LLC purchased a new stake in shares of ADTRAN in the 2nd quarter valued at approximately $90,000. Finally, DNB Asset Management AS increased its position in shares of ADTRAN by 33.4% in the 2nd quarter. DNB Asset Management AS now owns 4,631,848 shares of the communications equipment provider’s stock valued at $24,364,000 after purchasing an additional 1,159,809 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Trading Down 2.1 %

Shares of ADTRAN stock opened at $5.62 on Tuesday. The company has a fifty day simple moving average of $5.58 and a 200-day simple moving average of $5.33. 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. The stock has a market cap of $444.64 million, a price-to-earnings ratio of -0.82 and a beta of 1.19.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on ADTN shares. Rosenblatt Securities reissued a “neutral” rating and issued a $6.00 price objective 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 report on Thursday, September 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ADTRAN presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.17.

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.