Simplex Trading buys $334,514 stake in ADTRAN (ADTN)

ADTRAN (ADTN) : Simplex Trading scooped up 16,945 additional shares in ADTRAN during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 17,243 shares of ADTRAN which is valued at $334,514.ADTRAN makes up approximately 0.04% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Independent Portfolio Consultants reduced its stake in ADTN by selling 95 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 380 shares of ADTN which is valued at $7,361.Bnp Paribas Arbitrage Sa reduced its stake in ADTN by selling 7,675 shares or 50.3% in the most recent quarter. The Hedge Fund company now holds 7,582 shares of ADTN which is valued at $146,863.Eqis Capital Management boosted its stake in ADTN in the latest quarter, The investment management firm added 685 additional shares and now holds a total of 11,631 shares of ADTRAN which is valued at $225,292. ADTRAN makes up approx 0.01% of Eqis Capital Management’s portfolio.

ADTRAN closed down -0.13 points or -0.67% at $19.4 with 1,87,075 shares getting traded on Friday. Post opening the session at $19.52, the shares hit an intraday low of $19.14 and an intraday high of $19.61 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, ADTRAN reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 13, 2015. Analyst had a consensus of $0.17. The company had revenue of $158.08 million for the quarter, compared to analysts expectations of $160.32 million. The company’s revenue was down -3.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

ADTRAN Inc. is a global provider of networking and communications equipment. The Company’s solutions enable voice data video and Internet communications across a variety of network infrastructures. The Company operates through two segments: the Carrier Networks Division and the Enterprise Networks Division. The Carrier Networks Division offers broadband and optical infrastructure products and services used by service providers to aggregate transport and deliver voice data and video services to their customers’ premises and mobile network cell sites. The Enterprise Networks Division provides cloud connectivity solutions such as IP business gateways and access routers which provide business access to service provider networks and enterprise communications solutions which enable businesses to construct voice data and video networks at a single customer premises or among a distributed enterprise’s multiple sites.

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