Tieton Capital Management LLC Sells 5,480 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Tieton Capital Management LLC cut its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 962,404 shares of the communications equipment provider’s stock after selling 5,480 shares during the quarter. ADTRAN accounts for about 3.0% of Tieton Capital Management LLC’s portfolio, making the stock its 16th biggest position. Tieton Capital Management LLC owned approximately 1.21% of ADTRAN worth $5,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after buying an additional 4,177 shares during the last quarter. Park Avenue Securities LLC bought a new stake in shares of ADTRAN in the 3rd quarter worth $65,000. Point72 DIFC Ltd purchased a new stake in shares of ADTRAN in the second quarter valued at about $69,000. SG Americas Securities LLC bought a new position in shares of ADTRAN during the second quarter valued at about $90,000. Finally, Intech Investment Management LLC purchased a new position in ADTRAN during the third quarter worth about $92,000. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

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

ADTRAN Price Performance

NASDAQ ADTN opened at $8.62 on Friday. The firm’s 50-day simple moving average is $6.41 and its two-hundred day simple moving average is $5.76. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $8.72. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

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.