Lisanti Capital Growth LLC Buys New Stake in ADTRAN Holdings, Inc. $ADTN

Lisanti Capital Growth LLC purchased a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 115,625 shares of the communications equipment provider’s stock, valued at approximately $1,607,000. Lisanti Capital Growth LLC owned approximately 0.14% of ADTRAN as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Tieton Capital Management LLC bought a new stake in shares of ADTRAN in the 2nd quarter valued at approximately $7,931,000. Focused Alpha LLC bought a new stake in ADTRAN in the second quarter valued at $204,000. BlackRock Inc. acquired a new position in ADTRAN during the second quarter worth $108,923,000. Deutsche Bank AG bought a new position in shares of ADTRAN during the second quarter valued at $3,278,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of ADTRAN during the second quarter valued at $28,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADTN. Rosenblatt Securities dropped their target price on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Needham & Company LLC decreased their price objective on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Craig Hallum set a $12.00 price objective on shares of ADTRAN in a report on Wednesday, August 5th. Finally, Zacks Research downgraded ADTRAN from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.67.

ADTRAN Trading Down 1.1%

NASDAQ ADTN opened at $8.01 on Thursday. ADTRAN Holdings, Inc. has a 12 month low of $7.11 and a 12 month high of $19.98. The stock has a 50-day simple moving average of $11.46 and a 200 day simple moving average of $12.65. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $652.65 million, a PE ratio of -28.61 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The company had revenue of $281.15 million for the quarter, compared to the consensus estimate of $290.19 million. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts forecast that ADTRAN Holdings, Inc. will post 0.16 EPS for the current year.

ADTRAN Company Profile

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.