Victory Capital Management Inc. Takes Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Victory Capital Management Inc. bought a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 121,500 shares of the communications equipment provider's stock, valued at approximately $1,012,000. Victory Capital Management Inc. owned approximately 0.15% of ADTRAN as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of ADTRAN in the fourth quarter worth $300,000. Kovack Advisors Inc. grew its position in shares of ADTRAN by 2.7% in the 4th quarter. Kovack Advisors Inc. now owns 799,950 shares of the communications equipment provider's stock valued at $6,664,000 after buying an additional 21,100 shares during the last quarter. SG Americas Securities LLC grew its position in shares of ADTRAN by 24.7% in the 4th quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider's stock valued at $295,000 after buying an additional 7,011 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of ADTRAN by 39.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider's stock valued at $7,708,000 after buying an additional 263,156 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of ADTRAN by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider's stock worth $741,000 after acquiring an additional 13,478 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

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ADTRAN Stock Up 2.4 %

NASDAQ ADTN traded up $0.22 on Monday, hitting $9.43. 739,003 shares of the company were exchanged, compared to its average volume of 879,470. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $12.44. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company has a market cap of $753.08 million, a PE ratio of -1.45 and a beta of 1.29. The stock has a fifty day moving average of $10.26 and a 200-day moving average of $8.30.

Analyst Ratings Changes

A number of research firms have weighed in on ADTN. Craig Hallum assumed coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a "buy" rating and a $15.00 target price for the company. Northland Securities lifted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 price target on shares of ADTRAN in a research report on Friday, February 28th. Finally, Needham & Company LLC increased their price target on ADTRAN from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $13.50.

ADTRAN Company 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.