Marshall Wace LLP Grows Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Marshall Wace LLP raised its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 3,656.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,198 shares of the communications equipment provider’s stock after buying an additional 432,372 shares during the quarter. Marshall Wace LLP owned about 0.56% of ADTRAN worth $2,336,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ADTN. Paradigm Capital Management Inc. NY grew its holdings in shares of ADTRAN by 173.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock valued at $12,872,000 after purchasing an additional 1,551,000 shares during the period. DNB Asset Management AS grew 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 purchasing an additional 1,159,809 shares during the period. William Blair Investment Management LLC grew its holdings in shares of ADTRAN by 22.5% in the first quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock valued at $24,241,000 after purchasing an additional 817,762 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of ADTRAN by 67.8% in the second quarter. First Eagle Investment Management LLC now owns 681,807 shares of the communications equipment provider’s stock valued at $3,586,000 after purchasing an additional 275,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of ADTRAN by 25.1% in the first 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 purchasing an additional 237,739 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

ADTN has been the topic of a number of recent analyst reports. 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. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.00 target price on shares of ADTRAN in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ADTRAN has a consensus rating of “Moderate Buy” and a consensus target price of $7.17.

ADTRAN Stock Up 0.5 %

Shares of ADTN opened at $5.88 on Friday. The stock has a market capitalization of $465.21 million, a PE ratio of -0.85 and a beta of 1.19. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $8.07. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 2.31. The company’s 50-day simple moving average is $5.53 and its 200-day simple moving average is $5.34.

ADTRAN (NASDAQ:ADTN) last issued its quarterly 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). The business 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%. Analysts forecast that ADTRAN Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

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.