ADTRAN, Inc. (NASDAQ:ADTN) VP Roger D. Shannon sold 6,200 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $9.71, for a total value of $60,202.00. Following the transaction, the vice president now directly owns 12,809 shares in the company, valued at approximately $124,375.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of ADTN stock traded up $0.08 during trading on Thursday, reaching $9.69. 50,469 shares of the company’s stock were exchanged, compared to its average volume of 340,149. The stock has a market capitalization of $434.02 million, a PE ratio of -20.62, a PEG ratio of 38.89 and a beta of 1.24. ADTRAN, Inc. has a twelve month low of $8.09 and a twelve month high of $17.81. The firm’s fifty day moving average price is $10.78 and its 200-day moving average price is $13.62.
ADTRAN (NASDAQ:ADTN) last posted its earnings results on Wednesday, July 17th. The communications equipment provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $156.39 million for the quarter, compared to analyst estimates of $155.95 million. ADTRAN had a return on equity of 2.34% and a net margin of 0.85%. Sell-side analysts anticipate that ADTRAN, Inc. will post 0.05 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of ADTN. Swiss National Bank grew its holdings in ADTRAN by 2.4% in the 2nd quarter. Swiss National Bank now owns 88,900 shares of the communications equipment provider’s stock valued at $1,356,000 after buying an additional 2,100 shares in the last quarter. Trexquant Investment LP grew its holdings in ADTRAN by 23.9% in the 2nd quarter. Trexquant Investment LP now owns 14,142 shares of the communications equipment provider’s stock valued at $216,000 after buying an additional 2,727 shares in the last quarter. Bank of Montreal Can grew its holdings in ADTRAN by 757.0% in the 2nd quarter. Bank of Montreal Can now owns 4,499 shares of the communications equipment provider’s stock valued at $69,000 after buying an additional 3,974 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in ADTRAN by 21.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 39,501 shares of the communications equipment provider’s stock valued at $602,000 after buying an additional 6,867 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in ADTRAN in the 2nd quarter valued at $114,000. 91.19% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Zacks Investment Research lowered ADTRAN from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research report on Monday. ValuEngine raised ADTRAN from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Northland Securities reissued a “hold” rating and set a $10.00 target price on shares of ADTRAN in a report on Thursday, October 10th. BidaskClub lowered ADTRAN from a “sell” rating to a “strong sell” rating in a report on Tuesday. Finally, MKM Partners lowered ADTRAN from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $11.00 in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.00.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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