Quantinno Capital Management LP Acquires ADTRAN Holdings Shares

Quantinno Capital Management LP has recently made a notable investment in ADTRAN Holdings, Inc. (NASDAQ:ADTN), as reported by Holdings Channel.com. In the third quarter of this year, the investment firm acquired a new position, purchasing a total of 20,303 shares valued at around $120,000. This investment marks a significant addition to its portfolio, reinforcing confidence in the communications equipment sector.

In addition to Quantinno's move, several other hedge funds have made adjustments to their holdings of ADTN shares. For example, Paradigm Capital Management Inc. NY increased its stake by an impressive 173.1% during the second quarter, now owning 2,447,100 shares worth approximately $12,872,000 after purchasing an additional 1,551,000 shares.

Similarly, Millennium Management LLC raised its position drastically by 8,824.3% in the same quarter, acquiring 1,549,621 shares valued at $8,151,000 after an additional purchase of 1,532,257 shares. Also notable is Divisar Capital Management LLC, which grew its holdings by 25.0%, leading to ownership of 5,740,461 shares worth $30,195,000 after acquiring an extra 1,146,774 shares.

Another major player, Assenagon Asset Management S.A., boosted its holdings by 1,545.2% in the third quarter, now owning 662,154 shares valued at $3,927,000 following an additional purchase of 621,906 shares. Lastly, Marshall Wace LLP increased its stakes by 3,656.1%, holding 444,198 shares valued at $2,336,000 after an additional purchase of 432,372 shares. Collectively, these actions reflect a strong institutional interest in ADTRAN, with institutional investors and hedge funds holding 80.56% of the stock.

ADTRAN Stock Overview

As of Wednesday, ADTRAN shares opened at $8.40. The company's performance has shown variability, with a 1-year low of $4.34 and a high of $9.21. The market capitalization stands at $666.17 million, with the stock carrying a P/E ratio of -1.29 and a beta of 1.29. Over the past 50 days, the simple moving average of the stock is $7.42, and over the last 200 days, it is $6.17. Financial metrics reveal a debt-to-equity ratio of 0.89, a current ratio of 2.10, and a quick ratio of 1.17.

Analyst Ratings and Projections

ADTRAN has garnered attention from analysts recently, resulting in upgraded price targets. Needham & Company LLC raised their target price from $8.00 to $11.00 on November 8, while also issuing a "buy" rating for the stock. On the same day, Rosenblatt Securities upgraded ADTRAN from a “neutral” to a “buy” rating with a new target price of $10.00. Furthermore, StockNews.com shifted its rating from “sell” to “hold” on October 2. Overall, the stock carries a mix of opinions, with one analyst suggesting a hold, three giving a buy rating, and one advocating a strong buy. MarketBeat data shows an average rating of "Buy" with an average price target of $9.50.

Company Insights

ADTRAN Holdings, Inc. operates through its subsidiaries, providing various networking and communication solutions, software, systems, and services across the globe, including the United States, Germany, and the United Kingdom. The company is organized into two main segments: Network Solutions and Services & Support. Their product offerings include residential gateways, ethernet devices, routers, and optical transport solutions, showcasing a comprehensive portfolio supporting networking and communications.

Conclusion

Overall, the recent activities surrounding ADTRAN showcase a growing interest from institutional investors and the positive outlook from analysts. As the communications market continues to evolve, ADTRAN's strategic position and investment in technology may present opportunities for growth.

investment, shares, ADTRAN