Tieton Capital Management Lowers stake in ADTRAN (ADTN)

ADTRAN (ADTN) : Tieton Capital Management reduced its stake in ADTRAN by 8.19% during the most recent quarter end. The investment management company now holds a total of 332,546 shares of ADTRAN which is valued at $6.2 Million after selling 29,658 shares in ADTRAN , the firm said in a disclosure report filed with the SEC on May 11, 2016.ADTRAN makes up approximately 6.27% of Tieton Capital Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp reduced its stake in ADTN by selling 40,000 shares or 7.31% in the most recent quarter. The Hedge Fund company now holds 507,502 shares of ADTN which is valued at $9.4 Million. ADTRAN makes up approx 0.06% of Royce Associates Lp’s portfolio.Ls Investment Advisors boosted its stake in ADTN in the latest quarter, The investment management firm added 45 additional shares and now holds a total of 1,740 shares of ADTRAN which is valued at $32,329.First Trust Advisors Lp reduced its stake in ADTN by selling 35,507 shares or 77.18% in the most recent quarter. The Hedge Fund company now holds 10,497 shares of ADTN which is valued at $195,034. Capital Fund Management S.a. sold out all of its stake in ADTN during the most recent quarter. The investment firm sold 50,600 shares of ADTN which is valued $951,786.Texas Permanent School Fund reduced its stake in ADTN by selling 1,739 shares or 4.22% in the most recent quarter. The Hedge Fund company now holds 39,452 shares of ADTN which is valued at $762,213. ADTRAN makes up approx 0.01% of Texas Permanent School Fund’s portfolio.

ADTRAN opened for trading at $18.47 and hit $18.98 on the upside on Monday, eventually ending the session at $18.76, with a gain of 0.97% or 0.18 points. The heightened volatility saw the trading volume jump to 2,29,678 shares. Company has a market cap of $919 M.

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.

Many Wall Street Analysts have commented on ADTRAN. ADTRAN was Downgraded by Goldman to ” Sell” on Apr 19, 2016. Company shares were Reiterated by Needham on Apr 14, 2016 to “Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $21 .Company shares were Reiterated by MKM Partners on Apr 14, 2016 to “Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $23 .

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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