96,759 Shares in Array Digital Infrastructure Inc. $AD Acquired by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue bought a new position of 96,759 shares in Array Digital Infrastructure (~$5.19M), representing about 0.11% of the company; institutional investors own roughly 18.03% of the stock.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $54.50 after several firms adjusted targets into the mid‑$50s.
• Array beat quarterly expectations with EPS of $0.48 vs. $0.30 and revenue of $60.33M (up 131% YoY); the stock carries a market cap of $4.15B and a P/E of 87.14, trading in a 1‑year range of $44.03–$79.17.

State of Alaska Department of Revenue purchased a new position in Array Digital Infrastructure Inc. (NYSE:AD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 96,759 shares of the company's stock, valued at approximately $5,187,000. State of Alaska Department of Revenue owned about 0.11% of Array Digital Infrastructure as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aberdeen Group plc bought a new position in Array Digital Infrastructure in the 4th quarter valued at approximately $15,528,000. Hennion & Walsh Asset Management Inc. bought a new position in Array Digital Infrastructure in the 4th quarter valued at approximately $910,000. Signaturefd LLC bought a new position in Array Digital Infrastructure in the 4th quarter valued at approximately $73,000. Finally, Harbor Capital Advisors Inc. bought a new position in Array Digital Infrastructure in the 4th quarter valued at approximately $99,000. 18.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AD has been the topic of several analyst reports. Weiss Ratings raised Array Digital Infrastructure from a "sell (d)" rating to a "hold (c)" rating in a research report on Monday, March 16th. Raymond James Financial set a $53.00 price target on Array Digital Infrastructure in a report on Monday, February 23rd. Wells Fargo & Company lowered their price target on Array Digital Infrastructure from $62.00 to $54.00 and set an "overweight" rating on the stock in a report on Thursday, February 12th. Citigroup lowered their price target on Array Digital Infrastructure from $63.00 to $57.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Finally, Royal Bank Of Canada lowered their price target on Array Digital Infrastructure from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.50.

Array Digital Infrastructure Price Performance

NYSE AD opened at $48.80 on Wednesday. The business's fifty day moving average price is $48.42 and its 200-day moving average price is $49.61. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 87.14 and a beta of 0.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.72 and a quick ratio of 0.72. Array Digital Infrastructure Inc. has a 1-year low of $44.03 and a 1-year high of $79.17.

Array Digital Infrastructure (NYSE:AD - Get Free Report) last released its quarterly earnings results on Friday, February 20th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.18. The firm had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.Array Digital Infrastructure's revenue for the quarter was up 131.2% on a year-over-year basis.

About Array Digital Infrastructure

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.

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