Array Digital Infrastructure Inc. $AD Stake Lessened by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL cut its stake in Array Digital Infrastructure Inc. (NYSE:AD) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 844,562 shares of the company’s stock after selling 119,999 shares during the period. Gamco Investors INC. ET AL’s holdings in Array Digital Infrastructure were worth $38,968,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AD. Dimensional Fund Advisors LP acquired a new position in Array Digital Infrastructure during the 4th quarter worth $120,237,000. Jericho Capital Asset Management L.P. bought a new position in shares of Array Digital Infrastructure in the 4th quarter worth about $97,366,000. Vanguard Group Inc. bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at about $76,634,000. Loomis Sayles & Co. L P acquired a new stake in Array Digital Infrastructure during the fourth quarter worth about $40,842,000. Finally, Oaktree Capital Management LP bought a new position in Array Digital Infrastructure in the fourth quarter worth about $38,845,000. 18.03% of the stock is currently owned by institutional investors.

Array Digital Infrastructure Trading Up 2.0%

NYSE:AD opened at $34.86 on Friday. The stock has a fifty day simple moving average of $41.68 and a 200 day simple moving average of $46.92. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 14.46 and a beta of 0.25. Array Digital Infrastructure Inc. has a 1-year low of $33.71 and a 1-year high of $79.17. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.36.

Array Digital Infrastructure Dividend Announcement

The company also recently declared a special dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $11.00 per share. The ex-dividend date was Thursday, June 11th.

Wall Street Analysts Forecast Growth

AD has been the subject of a number of recent research reports. Raymond James Financial downgraded Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. cut their price objective on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Array Digital Infrastructure in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada cut their price target on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating on the stock in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.60.

Array Digital Infrastructure Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and internet of things devices. In addition, the company offers various accessories, such as cases, screen protectors, chargers, and memory cards; and consumer electronics, including audio, home automation, and networking products; as well as offers option to purchase devices and accessories under installment contracts.