Rail-splitter Capital Management buys $7,691,065 stake in ADTRAN (ADTN)

ADTRAN (ADTN) : Rail-splitter Capital Management scooped up 81,009 additional shares in ADTRAN during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 426,334 shares of ADTRAN which is valued at $7,691,065.ADTRAN makes up approximately 1.78% of Rail-splitter Capital Management’s portfolio.

Other Hedge Funds, Including , Cwm sold out all of its stake in ADTN during the most recent quarter. The investment firm sold 167 shares of ADTN which is valued $3,004. Chicago Trust Co Na added ADTN to its portfolio by purchasing 10,671 company shares during the most recent quarter which is valued at $206,484. ADTRAN makes up approx 0.09% of Chicago Trust Co Na’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ADTN in the latest quarter, The investment management firm added 8,060 additional shares and now holds a total of 15,257 shares of ADTRAN which is valued at $295,223.

ADTRAN closed down -0.13 points or -0.72% at $17.81 with 1,33,291 shares getting traded on Monday. Post opening the session at $17.94, the shares hit an intraday low of $17.76 and an intraday high of $18 and the price fluctuated in this range throughout the day.Shares ended Monday 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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