Tieton Capital Management LLC Purchases 229,605 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Tieton Capital Management LLC lifted its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 23.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,192,009 shares of the communications equipment provider’s stock after purchasing an additional 229,605 shares during the quarter. ADTRAN accounts for approximately 4.0% of Tieton Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Tieton Capital Management LLC’s holdings in ADTRAN were worth $9,929,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP grew its holdings in shares of ADTRAN by 104.5% during the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock worth $124,000 after purchasing an additional 7,636 shares in the last quarter. Intech Investment Management LLC acquired a new stake in ADTRAN in the 3rd quarter valued at $92,000. Magnetar Financial LLC acquired a new stake in ADTRAN in the 4th quarter valued at $140,000. Point72 Asset Management L.P. acquired a new stake in ADTRAN in the 3rd quarter valued at $114,000. Finally, Inceptionr LLC acquired a new stake in ADTRAN in the 4th quarter valued at $162,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Trading Up 1.9 %

NASDAQ ADTN opened at $9.21 on Monday. The stock has a market capitalization of $735.51 million, a price-to-earnings ratio of -1.41 and a beta of 1.29. The stock’s 50 day moving average price is $10.26 and its two-hundred day moving average price is $8.30. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $12.44.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of ADTRAN in a research report on Friday, February 28th. Needham & Company LLC lifted their price objective on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating 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 target price for the company. Finally, Northland Securities boosted their target price on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.