ADTRAN, Inc. (NASDAQ:ADTN) Director Balan Nair acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were bought at an average cost of $9.19 per share, for a total transaction of $91,900.00. Following the acquisition, the director now directly owns 49,505 shares in the company, valued at approximately $454,950.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ADTN traded up $0.22 during trading on Friday, reaching $9.65. 4,797 shares of the company were exchanged, compared to its average volume of 358,456. The company has a market cap of $452.92 million, a price-to-earnings ratio of -20.06, a P/E/G ratio of 43.71 and a beta of 1.19. The company’s 50-day moving average is $10.19 and its two-hundred day moving average is $13.07. ADTRAN, Inc. has a 12-month low of $8.09 and a 12-month high of $17.81.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Wednesday, October 30th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $114.09 million during the quarter, compared to the consensus estimate of $114.00 million. ADTRAN had a negative return on equity of 0.57% and a negative net margin of 8.79%. Equities analysts predict that ADTRAN, Inc. will post -0.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 3.73%. ADTRAN’s dividend payout ratio is currently -76.60%.

A number of analysts recently issued reports on the company. BidaskClub raised ADTRAN from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 22nd. MKM Partners cut ADTRAN from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $17.00 to $11.00 in a report on Thursday, October 10th. Needham & Company LLC reissued a “hold” rating on shares of ADTRAN in a report on Thursday, October 31st. Zacks Investment Research cut ADTRAN from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a report on Monday, October 14th. Finally, ValuEngine raised ADTRAN from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. ADTRAN currently has a consensus rating of “Hold” and a consensus price target of $12.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in ADTRAN by 2.6% in the 2nd quarter. BlackRock Inc. now owns 7,383,380 shares of the communications equipment provider’s stock worth $112,597,000 after acquiring an additional 186,051 shares during the last quarter. Renaissance Technologies LLC increased its stake in ADTRAN by 17.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,265,928 shares of the communications equipment provider’s stock worth $34,555,000 after acquiring an additional 328,900 shares during the last quarter. Northern Trust Corp increased its stake in ADTRAN by 2.0% in the 2nd quarter. Northern Trust Corp now owns 1,009,188 shares of the communications equipment provider’s stock worth $15,390,000 after acquiring an additional 19,988 shares during the last quarter. Bank of New York Mellon Corp increased its stake in ADTRAN by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 840,421 shares of the communications equipment provider’s stock worth $12,816,000 after acquiring an additional 50,399 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in ADTRAN by 57.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 678,228 shares of the communications equipment provider’s stock worth $10,343,000 after acquiring an additional 248,296 shares during the last quarter. Institutional investors and hedge funds own 91.42% of the company’s stock.

ADTRAN Company Profile

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

Recommended Story: What is the Stochastic Momentum Index (SMI)?

Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.