ADTRAN (NASDAQ:ADTN) CEO Thomas Stanton Acquires 150,000 Shares of Stock

ADTRAN Holdings, Inc. (NASDAQ:ADTN) CEO Thomas Stanton acquired 150,000 shares of ADTRAN stock in a transaction dated Friday, November 6th. The shares were purchased at an average price of $4.01 per share, for a total transaction of $601,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,410,890 shares in the company, valued at approximately $5,657,668.90. The trade was a 11.90% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ADTRAN Price Performance

ADTN traded up $0.25 during midday trading on Monday, hitting $4.29. The stock had a trading volume of 3,117,281 shares, compared to its average volume of 2,012,813. ADTRAN Holdings, Inc. has a 1 year low of $3.92 and a 1 year high of $19.98. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.23 and a current ratio of 1.89. The business has a fifty day moving average of $6.83 and a 200 day moving average of $10.93. The company has a market cap of $349.55 million, a P/E ratio of -16.50, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, November 3rd. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $281.17 million for the quarter, compared to the consensus estimate of $285.15 million. ADTRAN had a negative net margin of 2.20% and a positive return on equity of 17.76%. The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. As a group, equities analysts forecast that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

A number of large investors have recently bought and sold shares of ADTN. BlackRock Inc. bought a new stake in ADTRAN in the second quarter valued at approximately $108,923,000. Royce & Associates LP boosted its stake in shares of ADTRAN by 4.7% during the third quarter. Royce & Associates LP now owns 3,111,416 shares of the communications equipment provider’s stock valued at $21,267,000 after purchasing an additional 138,499 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of ADTRAN by 50.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock worth $16,817,000 after purchasing an additional 448,848 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of ADTRAN in the second quarter worth approximately $15,276,000. Finally, Sei Investments Co. grew its holdings in shares of ADTRAN by 162.0% in the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock worth $13,902,000 after purchasing an additional 683,262 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. B. Riley Financial reaffirmed a “buy” rating and set a $14.00 target price (down from $21.00) on shares of ADTRAN in a report on Wednesday, November 4th. Craig Hallum set a $12.00 price target on shares of ADTRAN in a research note on Wednesday, August 5th. Evercore set a $11.00 price target on shares of ADTRAN in a research note on Wednesday, August 5th. Northland Securities set a $15.00 price target on shares of ADTRAN in a research report on Wednesday, August 5th. Finally, Weiss Ratings cut ADTRAN from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 16th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.21.

About ADTRAN

ADTRAN Holdings, Inc (NASDAQ: ADTN) is a global telecommunications equipment and networking company that provides communications infrastructure for service providers, enterprises and other organizations. The company develops solutions that help network operators deliver broadband, voice, data and cloud-connected services over fiber, copper, wireless and other access technologies.

Its portfolio includes fiber access systems, passive optical networking equipment, broadband access platforms, Ethernet and data networking products, routers, switches, Wi-Fi solutions, fixed wireless access equipment and software for network management and automation.