XTX Topco Ltd Increases Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

XTX Topco Ltd increased its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 309.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,879 shares of the communications equipment provider’s stock after buying an additional 66,401 shares during the quarter. XTX Topco Ltd owned about 0.11% of ADTRAN worth $462,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. DNB Asset Management AS boosted its holdings in shares of ADTRAN by 33.4% in the second quarter. DNB Asset Management AS now owns 4,631,848 shares of the communications equipment provider’s stock valued at $24,364,000 after acquiring an additional 1,159,809 shares in the last quarter. William Blair Investment Management LLC increased its position in ADTRAN by 22.5% during the 1st quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock worth $24,241,000 after purchasing an additional 817,762 shares during the period. First Eagle Investment Management LLC raised its stake in shares of ADTRAN by 67.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 681,807 shares of the communications equipment provider’s stock worth $3,586,000 after buying an additional 275,500 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of ADTRAN by 25.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,184,939 shares of the communications equipment provider’s stock valued at $6,446,000 after buying an additional 237,739 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of ADTRAN by 26.4% in the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after buying an additional 142,100 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

ADTN has been the subject of a number of recent analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $6.00 target price on shares of ADTRAN in a report on Wednesday, August 7th. StockNews.com cut shares of ADTRAN from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of ADTRAN in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.17.

ADTRAN Price Performance

ADTRAN stock opened at $6.02 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.86. The firm’s 50-day simple moving average is $5.57 and its 200 day simple moving average is $5.33. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $8.56. The firm has a market capitalization of $476.28 million, a PE ratio of -0.88 and a beta of 1.19.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data 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). The company had revenue of $225.99 million for the quarter, compared to analyst estimates of $225.95 million. ADTRAN had a negative return on equity of 29.26% and a negative net margin of 58.64%. On average, equities research analysts predict that ADTRAN Holdings, Inc. will post -0.41 EPS for the current fiscal year.

ADTRAN 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.