Kovack Advisors Inc. Raises Stake in ADTRAN Holdings, Inc. $ADTN

Kovack Advisors Inc. increased its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 753,550 shares of the communications equipment provider’s stock after buying an additional 45,650 shares during the period. Kovack Advisors Inc. owned about 0.94% of ADTRAN worth $6,669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alyeska Investment Group L.P. purchased a new position in shares of ADTRAN during the 3rd quarter worth $10,168,000. Schonfeld Strategic Advisors LLC increased its stake in ADTRAN by 5,809.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after purchasing an additional 773,509 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in ADTRAN by 434.2% in the third quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock valued at $8,415,000 after purchasing an additional 729,194 shares during the last quarter. SG Americas Securities LLC lifted its position in ADTRAN by 324.3% during the fourth quarter. SG Americas Securities LLC now owns 857,044 shares of the communications equipment provider’s stock worth $7,448,000 after buying an additional 655,058 shares during the period. Finally, Marshall Wace LLP boosted its stake in ADTRAN by 88.2% in the 2nd quarter. Marshall Wace LLP now owns 816,533 shares of the communications equipment provider’s stock worth $7,324,000 after buying an additional 382,609 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADTN has been the subject of a number of research analyst reports. B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a research note on Friday, May 1st. Rosenblatt Securities raised their target price on shares of ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Northland Securities set a $18.00 price target on shares of ADTRAN in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday, April 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of ADTRAN in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

ADTRAN Stock Up 1.7%

ADTN opened at $15.20 on Friday. ADTRAN Holdings, Inc. has a 1 year low of $7.11 and a 1 year high of $19.98. The firm has a 50 day moving average price of $15.69 and a 200 day moving average price of $11.74. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77. The company has a market cap of $1.23 billion, a PE ratio of -38.97 and a beta of 1.42.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company had revenue of $286.09 million during the quarter, compared to the consensus estimate of $285.48 million. During the same period in the previous year, the firm earned $0.03 earnings per share. ADTRAN’s revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts expect that ADTRAN Holdings, Inc. will post 0.43 earnings per share for the current year.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.