129,491 Shares in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 129,491 shares of the communications equipment provider's stock, valued at approximately $681,000. Cubist Systematic Strategies LLC owned 0.16% of ADTRAN as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADTN. Point72 DIFC Ltd bought a new position in shares of ADTRAN in the second quarter worth about $69,000. SG Americas Securities LLC bought a new position in ADTRAN in the 2nd quarter worth about $90,000. PEAK6 Investments LLC increased its position in shares of ADTRAN by 28.5% during the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider's stock worth $96,000 after acquiring an additional 3,911 shares during the period. AQR Capital Management LLC bought a new stake in shares of ADTRAN during the second quarter valued at approximately $120,000. Finally, Versor Investments LP boosted its holdings in shares of ADTRAN by 36.5% in the second quarter. Versor Investments LP now owns 30,300 shares of the communications equipment provider's stock valued at $159,000 after purchasing an additional 8,100 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADTN shares. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 target price on shares of ADTRAN in a report on Thursday, August 8th. StockNews.com upgraded shares of ADTRAN from a "sell" rating to a "hold" rating in a report on Wednesday, October 2nd. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $6.00 price target on shares of ADTRAN in a report on Wednesday, August 7th. 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. Based on data from MarketBeat, ADTRAN currently has an average rating of "Moderate Buy" and a consensus target price of $7.17.

ADTRAN Stock Up 2.8 %

ADTN traded up $0.16 on Friday, hitting $5.91. The company had a trading volume of 264,651 shares, compared to its average volume of 841,131. The stock has a market capitalization of $467.58 million, a price-to-earnings ratio of -0.86 and a beta of 1.19. 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 stock has a fifty day moving average price of $5.45 and a 200-day moving average price of $5.36. ADTRAN Holdings, Inc. has a 12-month low of $4.34 and a 12-month high of $7.95.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced 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 firm had revenue of $225.99 million during the quarter, compared to analyst estimates of $225.95 million. ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. 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.