Great West Life Assurance Co. Can maintained its position in Adtran Inc. (NASDAQ:ADTN) during the second quarter, Holdings Channel reports. The institutional investor owned 5,300 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Adtran were worth $107,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Adtran during the first quarter worth approximately $200,000. CHICAGO TRUST Co NA acquired a new position in Adtran during the second quarter worth approximately $199,000. Eqis Capital Management Inc. increased its position in Adtran by 6.3% in the second quarter. Eqis Capital Management Inc. now owns 10,946 shares of the company’s stock worth $204,000 after buying an additional 646 shares during the period. Fox Run Management L.L.C. acquired a new position in Adtran during the second quarter worth approximately $250,000. Finally, BNP Paribas Arbitrage SA increased its position in Adtran by 112.0% in the second quarter. BNP Paribas Arbitrage SA now owns 15,257 shares of the company’s stock worth $285,000 after buying an additional 8,060 shares during the period. 96.10% of the stock is currently owned by institutional investors.
Adtran Inc. (NASDAQ:ADTN) traded up 1.22% during mid-day trading on Friday, hitting $19.14. 264,982 shares of the stock were exchanged. The company has a 50 day moving average of $18.50 and a 200 day moving average of $18.82. Adtran Inc. has a 12-month low of $13.92 and a 12-month high of $21.43. The firm has a market cap of $926.34 million, a P/E ratio of 33.94 and a beta of 1.05.
A number of research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Adtran in a research report on Thursday, July 14th. Zacks Investment Research downgraded shares of Adtran from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Finally, MKM Partners reissued a “buy” rating and set a $24.00 target price on shares of Adtran in a research report on Sunday, July 17th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.05.
ADTRAN, Inc 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: the Carrier Networks Division and the Enterprise Networks Division. Its Carrier Networks Division supplies the network access products, services and supports that service providers require to connect their customers to transmission and switching networks.
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