Several Headwinds Impacted ADTRAN Holdings (ADTN) in Q2
Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” second-quarter 2023 investor letter, a copy of which can be downloaded here. In the second quarter, the portfolio gained +1.7% (net) lagging behind R2000V’s +3.2% gain and R2500V’s +4.4% increase. In the quarter, quality factors were under pressure. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bernzott Capital Advisors highlighted stocks like ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the second quarter 2023 investor letter. Headquartered in Huntsville, Alabama, ADTRAN Holdings, Inc. (NASDAQ:ADTN) provides network access solutions. On July 19, 2023, ADTRAN Holdings, Inc. (NASDAQ:ADTN) stock closed at $10.22 per share. One-month return of ADTRAN Holdings, Inc. (NASDAQ:ADTN) was -0.89%, and its shares lost 57.26% of their value over the last 52 weeks. ADTRAN Holdings, Inc. (NASDAQ:ADTN) has a market capitalization of $814.004 million.
Bernzott Capital Advisors made the following comment about ADTRAN Holdings, Inc. (NASDAQ:ADTN) in its second quarter 2023 investor letter:
"Information Technology was the leading detractor from the portfolio's relative returns. Broadband equipment provider ADTRAN Holdings, Inc. (NASDAQ:ADTN) fell significantly as its earnings results and outlook were marred by supply chain disruptions, excess inventory, and execution challenges with the recent acquisition of ADVA. We exited the position."
Suwin/Shutterstock.com
ADTRAN Holdings, Inc. (NASDAQ:ADTN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held ADTRAN Holdings, Inc. (NASDAQ:ADTN) at the end of first quarter 2023 which was 16 in the previous quarter.
We discussed ADTRAN Holdings, Inc. (NASDAQ:ADTN) in another article and shared Bernzott Capital Advisors' views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
