Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 40,807 shares of the communications equipment provider's stock, valued at approximately $340,000. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of ADTRAN as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its holdings in shares of ADTRAN by 39.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider's stock worth $7,708,000 after acquiring an additional 263,156 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ADTRAN during the fourth quarter worth $2,146,000. Victory Capital Management Inc. bought a new stake in ADTRAN in the 4th quarter valued at about $1,012,000. Geode Capital Management LLC boosted its stake in shares of ADTRAN by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider's stock valued at $10,736,000 after buying an additional 63,960 shares during the period. Finally, State Street Corp increased its stake in ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider's stock worth $10,484,000 after acquiring an additional 48,542 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ADTN. Needham & Company LLC upped their price objective on shares of ADTRAN from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 price target on shares of ADTRAN in a report on Friday, February 28th. Craig Hallum initiated coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price objective on the stock. Finally, Northland Securities boosted their price objective on shares of ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $13.50.
View Our Latest Stock Analysis on ADTN
ADTRAN Price Performance
Shares of ADTN traded down $0.02 during mid-day trading on Thursday, reaching $9.22. The company had a trading volume of 1,046,335 shares, compared to its average volume of 882,332. The company has a market capitalization of $736.31 million, a price-to-earnings ratio of -1.42 and a beta of 1.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The company's 50 day simple moving average is $10.22 and its 200 day simple moving average is $8.36. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $12.44.
About ADTRAN
(
Free Report)
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.
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