Quantinno Capital Management LP Invests $120,000 in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Quantinno Capital Management LP acquired a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 20,303 shares of the communications equipment provider’s stock, valued at approximately $120,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in ADTRAN by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock worth $376,000 after purchasing an additional 2,396 shares in the last quarter. Inspire Investing LLC increased its stake in shares of ADTRAN by 5.1% during the third quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider’s stock worth $413,000 after buying an additional 3,387 shares during the period. Dimensional Fund Advisors LP raised its holdings in ADTRAN by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock valued at $1,472,000 after acquiring an additional 3,638 shares in the last quarter. Blue Trust Inc. grew its holdings in ADTRAN by 798.7% during the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 4,177 shares in the last quarter. Finally, Versor Investments LP increased its position in shares of ADTRAN by 36.5% in the 2nd quarter. Versor Investments LP now owns 30,300 shares of the communications equipment provider’s stock valued at $159,000 after purchasing an additional 8,100 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ADTN shares. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Needham & Company LLC upped their price objective on ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities raised ADTRAN from a “neutral” rating to a “buy” rating and raised their target price for the stock from $6.00 to $10.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $9.50.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $8.40 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $9.21. The firm has a market capitalization of $666.17 million, a P/E ratio of -1.29 and a beta of 1.29. The company’s fifty day moving average price is $7.42 and its 200 day moving average price is $6.17.

ADTRAN Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.