Vanguard Group Inc. Takes Position in Array Digital Infrastructure Inc. $AD

Vanguard Group Inc. purchased a new stake in shares of Array Digital Infrastructure Inc. (NYSE:AD) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,429,210 shares of the company’s stock, valued at approximately $76,634,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC acquired a new stake in shares of Array Digital Infrastructure during the 4th quarter worth about $73,000. Harbor Capital Advisors Inc. purchased a new stake in Array Digital Infrastructure in the 4th quarter valued at about $99,000. Arizona State Retirement System purchased a new stake in Array Digital Infrastructure in the 4th quarter valued at about $240,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Array Digital Infrastructure in the 4th quarter valued at about $326,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Array Digital Infrastructure in the 4th quarter valued at about $483,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AD shares. Raymond James Financial lowered shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a report on Monday. Weiss Ratings upgraded shares of Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, March 16th. Citigroup reduced their price objective on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Wall Street Zen lowered shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Array Digital Infrastructure presently has a consensus rating of “Hold” and an average price target of $54.00.

Array Digital Infrastructure Stock Performance

Shares of Array Digital Infrastructure stock opened at $50.88 on Thursday. The business has a 50-day moving average of $48.56 and a 200 day moving average of $49.61. Array Digital Infrastructure Inc. has a 12 month low of $44.03 and a 12 month high of $79.17. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 21.11 and a beta of 0.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.03 and a quick ratio of 0.72.

Array Digital Infrastructure (NYSE:AD) last announced its earnings results on Friday, February 20th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.18. Array Digital Infrastructure had a return on equity of 6.69% and a net margin of 19.32%.The company had revenue of $60.33 million during the quarter. The business’s revenue for the quarter was up 131.2% on a year-over-year basis. As a group, sell-side analysts forecast that Array Digital Infrastructure Inc. will post 0.42 earnings per share for the current year.

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.