Great West Life Assurance Co. Can lessened its holdings in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,041 shares of the communications equipment provider’s stock after selling 4,595 shares during the period. Great West Life Assurance Co. Can owned approximately 0.14% of ADTRAN worth $1,535,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in ADTRAN by 5.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock worth $141,000 after acquiring an additional 373 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new stake in ADTRAN during the 3rd quarter worth about $157,000. SG Americas Securities LLC acquired a new stake in ADTRAN during the 3rd quarter worth about $190,000. Suntrust Banks Inc. acquired a new stake in ADTRAN during the 2nd quarter worth about $208,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in ADTRAN during the 3rd quarter worth about $211,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research report on Friday, October 20th. Northland Securities set a $28.00 target price on ADTRAN and gave the company a “buy” rating in a research report on Wednesday, October 18th. Needham & Company LLC restated a “buy” rating and set a $22.00 target price (down from $26.00) on shares of ADTRAN in a research report on Friday. Cowen restated a “hold” rating and set a $16.00 target price on shares of ADTRAN in a research report on Friday, December 29th. Finally, BidaskClub cut ADTRAN from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. ADTRAN currently has an average rating of “Hold” and an average target price of $23.21.
ADTRAN, Inc. (NASDAQ:ADTN) remained flat at $$19.70 on Friday. The company had a trading volume of 348,986 shares, compared to its average volume of 475,256. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.43 and a current ratio of 3.36. ADTRAN, Inc. has a 1-year low of $18.65 and a 1-year high of $25.10. The firm has a market capitalization of $948.55, a PE ratio of 22.39, a price-to-earnings-growth ratio of 2.80 and a beta of 0.77.
ADTRAN (NASDAQ:ADTN) last released its earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.13. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The business had revenue of $185.11 million for the quarter, compared to analyst estimates of $185.43 million. equities research analysts expect that ADTRAN, Inc. will post 0.68 earnings per share for the current fiscal year.
In other ADTRAN news, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $21.60, for a total value of $211,874.40. Following the sale, the senior vice president now owns 10,162 shares of the company’s stock, valued at $219,499.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $21.70, for a total value of $1,042,815.20. Following the completion of the sale, the senior vice president now directly owns 11,658 shares in the company, valued at approximately $252,978.60. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.
ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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