Marshall Wace LLP Purchases 432,372 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Marshall Wace LLP lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 3,656.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 444,198 shares of the communications equipment provider's stock after buying an additional 432,372 shares during the period. Marshall Wace LLP owned about 0.56% of ADTRAN worth $2,336,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Paradigm Capital Management Inc. NY grew its position in ADTRAN by 173.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider's stock worth $12,872,000 after purchasing an additional 1,551,000 shares in the last quarter. DRW Securities LLC bought a new position in shares of ADTRAN in the second quarter valued at approximately $167,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of ADTRAN by 21.7% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 204,261 shares of the communications equipment provider's stock valued at $1,074,000 after acquiring an additional 36,371 shares during the last quarter. XTX Topco Ltd increased its position in shares of ADTRAN by 309.2% during the second quarter. XTX Topco Ltd now owns 87,879 shares of the communications equipment provider's stock valued at $462,000 after acquiring an additional 66,401 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in ADTRAN by 67.8% during the second quarter. First Eagle Investment Management LLC now owns 681,807 shares of the communications equipment provider's stock worth $3,586,000 after acquiring an additional 275,500 shares during the period. Institutional investors own 80.56% of the company's stock.

ADTRAN Stock Performance

ADTN traded up $0.03 during trading hours on Friday, hitting $5.88. The stock had a trading volume of 376,990 shares, compared to its average volume of 851,086. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $8.07. The company's fifty day simple moving average is $5.52 and its 200 day simple moving average is $5.35. The stock has a market cap of $465.21 million, a PE ratio of -0.85 and a beta of 1.19. 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 - Get Free Report) last posted its earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The business had revenue of $225.99 million during the quarter, compared to analysts' expectations of $225.95 million. ADTRAN had a negative return on equity of 29.26% and a negative net margin of 58.64%. Equities analysts anticipate that ADTRAN Holdings, Inc. will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADTN. Rosenblatt Securities reaffirmed a "neutral" rating and set a $6.00 target price on shares of ADTRAN in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price objective 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. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ADTRAN has an average rating of "Moderate Buy" and a consensus price target of $7.17.

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.