XTX Topco Ltd Has $470,000 Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

XTX Topco Ltd reduced its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 9.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 79,180 shares of the communications equipment provider’s stock after selling 8,699 shares during the quarter. XTX Topco Ltd’s holdings in ADTRAN were worth $470,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Paradigm Capital Management Inc. NY grew its position in ADTRAN by 173.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock worth $12,872,000 after buying an additional 1,551,000 shares in the last quarter. Millennium Management LLC grew its position in ADTRAN by 8,824.3% during the second quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider’s stock worth $8,151,000 after buying an additional 1,532,257 shares in the last quarter. Divisar Capital Management LLC grew its position in ADTRAN by 25.0% during the second quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider’s stock worth $30,195,000 after buying an additional 1,146,774 shares in the last quarter. Assenagon Asset Management S.A. grew its position in ADTRAN by 1,545.2% during the third quarter. Assenagon Asset Management S.A. now owns 662,154 shares of the communications equipment provider’s stock worth $3,927,000 after buying an additional 621,906 shares in the last quarter. Finally, Marshall Wace LLP grew its position in ADTRAN by 3,656.1% during the second quarter. Marshall Wace LLP now owns 444,198 shares of the communications equipment provider’s stock worth $2,336,000 after buying an additional 432,372 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Stock Performance

NASDAQ:ADTN opened at $8.54 on Friday. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $9.21. The firm has a 50 day moving average of $7.31 and a 200-day moving average of $6.12. 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 stock has a market capitalization of $677.27 million, a P/E ratio of -1.31 and a beta of 1.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ADTN shares. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Rosenblatt Securities raised ADTRAN from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $6.00 to $10.00 in a report on Friday, November 8th. Finally, Needham & Company LLC lifted their price objective on ADTRAN from $8.00 to $11.00 and gave the company 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $9.50.

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.