9,467 Shares in ADTRAN, Inc. (ADTN) Acquired by Macquarie Group Ltd.

Macquarie Group Ltd. purchased a new stake in ADTRAN, Inc. (NASDAQ:ADTN) during the third quarter, according to its most recent filing with the SEC. The fund purchased 9,467 shares of the communications equipment provider’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Texas Permanent School Fund grew its stake in shares of ADTRAN by 0.4% in the 2nd quarter. Texas Permanent School Fund now owns 35,282 shares of the communications equipment provider’s stock worth $729,000 after buying an additional 153 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of 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 buying an additional 373 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of ADTRAN by 6.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 15,620 shares of the communications equipment provider’s stock worth $322,000 after buying an additional 950 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of ADTRAN by 1.3% in the 1st quarter. Teachers Advisors LLC now owns 86,571 shares of the communications equipment provider’s stock worth $1,796,000 after buying an additional 1,145 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of ADTRAN by 5.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 29,050 shares of the communications equipment provider’s stock worth $600,000 after buying an additional 1,580 shares in the last quarter. Institutional investors own 91.37% of the company’s stock.

A number of equities analysts have commented on ADTN shares. Northland Securities reissued a “buy” rating and issued a $28.00 price objective on shares of ADTRAN in a research note on Tuesday, September 5th. BidaskClub cut shares of ADTRAN from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research cut shares of ADTRAN from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $24.29.

ADTRAN, Inc. (NASDAQ ADTN) opened at $22.10 on Wednesday. ADTRAN, Inc. has a 52 week low of $18.92 and a 52 week high of $25.10. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05. The company has a market cap of $1,060.00, a PE ratio of 23.80, a P/E/G ratio of 2.49 and a beta of 0.77.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The firm had revenue of $185.11 million during the quarter, compared to analysts’ expectations of $185.43 million. analysts predict that ADTRAN, Inc. will post 0.88 earnings per share for the current year.

In related news, SVP Kevin P. Heering sold 9,809 shares of ADTRAN stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the completion of the transaction, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at approximately $219,499.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Raymond R. Schansman sold 48,056 shares of ADTRAN stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the transaction, the senior vice president now directly owns 11,658 shares of the company’s stock, valued at $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by insiders.

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ADTRAN 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.

Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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