Deutsche Bank AG Acquires New Holdings in ADTRAN Holdings, Inc. $ADTN

Deutsche Bank AG bought a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the second quarter, Holdings Channel.com reports. The firm bought 235,833 shares of the communications equipment provider’s stock, valued at approximately $3,278,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of ADTRAN by 253.7% in the first quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock valued at $3,039,000 after purchasing an additional 249,954 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after buying an additional 1,946 shares in the last quarter. Legal & General Group Plc grew its holdings in ADTRAN by 13.9% in the 2nd quarter. Legal & General Group Plc now owns 113,480 shares of the communications equipment provider’s stock worth $1,018,000 after buying an additional 13,821 shares in the last quarter. American Century Companies Inc. increased its position in ADTRAN by 11.2% in the 2nd quarter. American Century Companies Inc. now owns 224,015 shares of the communications equipment provider’s stock valued at $2,009,000 after acquiring an additional 22,524 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in ADTRAN by 17.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 88,384 shares of the communications equipment provider’s stock valued at $793,000 after acquiring an additional 13,222 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

Shares of NASDAQ ADTN opened at $7.91 on Thursday. The stock has a fifty day moving average price of $10.74 and a two-hundred day moving average price of $12.59. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.19 and a current ratio of 1.79. The firm has a market cap of $644.51 million, a P/E ratio of -28.25 and a beta of 1.47. ADTRAN Holdings, Inc. has a 1 year low of $7.11 and a 1 year high of $19.98.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm had revenue of $281.15 million during 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%.ADTRAN’s revenue was up 6.0% on a year-over-year basis. Research analysts forecast that ADTRAN Holdings, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADTN. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Rosenblatt Securities cut their price objective on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Northland Securities set a $15.00 target price on shares of ADTRAN in a research report on Wednesday, August 5th. Finally, Zacks Research cut shares of ADTRAN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, ADTRAN presently has an average rating of “Hold” and a consensus price target of $14.67.

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.