ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 1,545.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 662,154 shares of the communications equipment provider's stock after buying an additional 621,906 shares during the period. Assenagon Asset Management S.A. owned approximately 0.84% of ADTRAN worth $3,927,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 4,177 shares in the last quarter. Inspire Investing LLC boosted its position in ADTRAN by 5.1% in the 3rd quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider's stock worth $413,000 after purchasing an additional 3,387 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in ADTRAN in the 3rd quarter worth approximately $65,000. SG Americas Securities LLC boosted its position in ADTRAN by 66.5% in the 3rd quarter. SG Americas Securities LLC now owns 28,413 shares of the communications equipment provider's stock worth $168,000 after purchasing an additional 11,348 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in ADTRAN in the 2nd quarter worth approximately $69,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

ADTRAN Price Performance

NASDAQ ADTN traded down $0.30 during mid-day trading on Thursday, hitting $6.08. The stock had a trading volume of 287,284 shares, compared to its average volume of 810,773. The firm's 50 day moving average is $5.76 and its 200 day moving average is $5.46. ADTRAN Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $7.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.31 and a quick ratio of 1.31. The stock has a market capitalization of $481.33 million, a price-to-earnings ratio of -0.86 and a beta of 1.19.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The communications equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. The firm had revenue of $225.99 million during the quarter, compared to analyst estimates of $225.95 million. Equities research analysts forecast that ADTRAN Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ADTN. Needham & Company LLC restated a "buy" rating and issued a $8.00 price objective on shares of ADTRAN in a research report on Thursday, August 8th. Rosenblatt Securities reiterated a "neutral" rating and set a $6.00 target price on shares of ADTRAN in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded ADTRAN from a "sell" rating to a "hold" rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.