Tieton Capital Management LLC Lowers Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Tieton Capital Management LLC reduced its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 962,404 shares of the communications equipment provider’s stock after selling 5,480 shares during the period. ADTRAN makes up 3.0% of Tieton Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Tieton Capital Management LLC’s holdings in ADTRAN were worth $5,707,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in shares of ADTRAN by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock valued at $376,000 after acquiring an additional 2,396 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ADTRAN by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock valued at $453,000 after purchasing an additional 2,764 shares during the last quarter. Inspire Investing LLC lifted its position in ADTRAN by 5.1% in the 3rd quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider’s stock worth $413,000 after buying an additional 3,387 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ADTRAN by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after acquiring an additional 3,638 shares in the last quarter. Finally, PEAK6 Investments LLC lifted its holdings in shares of ADTRAN by 28.5% in the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock worth $96,000 after acquiring an additional 3,911 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

ADTN stock opened at $8.62 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $8.72. The firm has a 50-day moving average of $6.41 and a 200 day moving average of $5.76.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADTN. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $10.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC raised their price target on shares of ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.50.

ADTRAN 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.