Catalyst Funds Management Pty Ltd Purchases 1,300 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Catalyst Funds Management Pty Ltd raised its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 6.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 22,800 shares of the communications equipment provider’s stock after acquiring an additional 1,300 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in ADTRAN were worth $190,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its stake in ADTRAN by 24.5% in the 4th quarter. First Eagle Investment Management LLC now owns 1,246,807 shares of the communications equipment provider’s stock valued at $10,386,000 after acquiring an additional 245,000 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in ADTRAN in the 4th quarter valued at approximately $296,000. Skandinaviska Enskilda Banken AB publ lifted its stake in ADTRAN by 2.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 220,401 shares of the communications equipment provider’s stock valued at $1,829,000 after acquiring an additional 5,382 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ADTRAN during the 4th quarter worth approximately $340,000. Finally, AlphaQuest LLC acquired a new position in shares of ADTRAN during the 4th quarter worth approximately $242,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Up 5.0 %

ADTN stock opened at $9.10 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $726.73 million, a PE ratio of -1.40 and a beta of 1.29. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $12.44. The business’s 50 day simple moving average is $10.36 and its 200 day simple moving average is $8.17.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Northland Securities boosted their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price target on shares of ADTRAN in a research report on Friday, February 28th. Craig Hallum assumed coverage on ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Needham & Company LLC boosted their price target on ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $13.50.

ADTRAN Company 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.