Tieton Capital Management LLC Makes New Investment in ADTRAN Holdings, Inc. $ADTN

Tieton Capital Management LLC bought a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 570,542 shares of the communications equipment provider’s stock, valued at approximately $7,931,000. ADTRAN accounts for 2.3% of Tieton Capital Management LLC’s holdings, making the stock its 22nd largest position. Tieton Capital Management LLC owned about 0.70% of ADTRAN as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ADTN. AQR Capital Management LLC raised its holdings in shares of ADTRAN by 253.7% during the first quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock worth $3,039,000 after acquiring an additional 249,954 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ADTRAN by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 1,946 shares in the last quarter. Legal & General Group Plc grew its stake in ADTRAN by 13.9% in the second quarter. Legal & General Group Plc now owns 113,480 shares of the communications equipment provider’s stock valued at $1,018,000 after purchasing 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 worth $2,009,000 after purchasing an additional 22,524 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of ADTRAN by 17.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 88,384 shares of the communications equipment provider’s stock worth $793,000 after purchasing an additional 13,222 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on ADTN shares. Evercore set a $11.00 price target on ADTRAN in a research note on Wednesday, August 5th. Needham & Company LLC reduced their target price on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Zacks Research downgraded shares of ADTRAN from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. B. Riley Financial restated a “buy” rating and set a $21.00 price target (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Finally, Craig Hallum set a $12.00 price target on shares of ADTRAN in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.67.

ADTRAN Stock Down 1.1%

Shares of ADTRAN stock opened at $8.01 on Thursday. The stock has a market capitalization of $652.65 million, a P/E ratio of -28.61 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. The stock has a 50 day moving average price of $11.46 and a two-hundred day moving average price of $12.65. ADTRAN Holdings, Inc. has a 12-month low of $7.11 and a 12-month high of $19.98.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results 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). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The firm had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. ADTRAN’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts expect that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current year.

ADTRAN 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.