Quantinno Capital Management LP Acquires Shares in ADTRAN Holdings, Inc.

In the third quarter, Quantinno Capital Management LP made a significant move by purchasing a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN). According to reports from HoldingsChannel.com, the firm acquired 20,303 shares valued at approximately $120,000, focusing on the communications equipment sector.

In addition to Quantinno, several other hedge funds have adjusted their investments in ADTRAN recently. Notably, Paradigm Capital Management Inc. from New York increased its position in ADTRAN by an impressive 173.1% in the second quarter. They now hold 2,447,100 shares, which are worth around $12,872,000 after acquiring an additional 1,551,000 shares in that quarter.

Millennium Management LLC also made headlines by boosting its stake in ADTRAN by 8,824.3% during the same period. This firm now possesses 1,549,621 shares valued at approximately $8,151,000 after acquiring another 1,532,257 shares. Furthermore, Divisar Capital Management LLC expanded its holdings in ADTRAN by 25.0%, now owning 5,740,461 shares worth $30,195,000 following a purchase of 1,146,774 shares.

Assenagon Asset Management S.A. recorded a dramatic increase in its position, rising by 1,545.2% during the third quarter, leading to ownership of 662,154 shares valued at around $3,927,000 after buying an additional 621,906 shares. Lastly, Marshall Wace LLP also saw a substantial increase in their holdings by 3,656.1% during the second quarter, bringing its total ownership to 444,198 shares valued at $2,336,000 after purchasing 432,372 shares. It is noteworthy that 80.56% of ADTRAN's stock is now held by institutional investors and hedge funds.

ADTRAN Stock Overview

ADTRAN's stock opened at $8.40 on a recent Wednesday. Over the past year, it reached a low of $4.34 and a high of $9.21. The company has a market capitalization of $666.17 million and a price-to-earnings ratio (P/E) of -1.29, with a beta of 1.29. The 50-day simple moving average stands at $7.42, while the 200-day simple moving average is at $6.17. The company’s current debt-to-equity ratio is 0.89, with a current ratio of 2.10 and a quick ratio of 1.17, indicating a stable financial position.

Analyst Recommendations

ADTRAN has caught the attention of several analysts recently. Needham & Company LLC raised their price target on ADTRAN from $8.00 to $11.00, assigning the stock a “buy” rating in a note dated November 8th. Rosenblatt Securities upgraded ADTRAN from a “neutral” to a “buy” rating and increased their price objective from $6.00 to $10.00 on the same day. Additionally, StockNews.com upgraded its assessment of ADTRAN from a “sell” to a “hold” rating on October 2nd. Currently, the stock has one hold rating, three buy ratings, and one strong buy rating. According to MarketBeat, ADTRAN enjoys an average rating of “Buy” and targets an average price of $9.50.

ADTRAN Company Overview

ADTRAN Holdings, Inc. specializes in providing a variety of networking and communications solutions through its subsidiaries. Operating globally, including in the United States, Germany, and the United Kingdom, ADTRAN focuses on two segments: Network Solutions and Services & Support. Its offerings include residential gateways, ethernet devices, routers, switches, optical network solutions, and various managed services, among others.

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