BlackRock Inc. bought a new stake in Array Digital Infrastructure Inc. (NYSE:AD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 400,915 shares of the company's stock, valued at approximately $14,537,000. BlackRock Inc. owned 0.46% of Array Digital Infrastructure at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Royal Bank of Canada bought a new position in Array Digital Infrastructure in the fourth quarter valued at approximately $25,000. Public Employees Retirement System of Ohio bought a new stake in shares of Array Digital Infrastructure during the first quarter worth $33,000. Quadrant Capital Group LLC bought a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $48,000. Empowered Funds LLC acquired a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $54,000. Finally, Harbour Investments Inc. acquired a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $61,000. Institutional investors and hedge funds own 18.03% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on AD shares. Royal Bank Of Canada dropped their price target on Array Digital Infrastructure from $52.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Friday, July 10th. Citigroup reduced their price objective on Array Digital Infrastructure from $45.02 to $45.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. JPMorgan Chase & Co. decreased their price objective on Array Digital Infrastructure from $54.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, August 19th. Wall Street Zen lowered Array Digital Infrastructure from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Raymond James Financial cut Array Digital Infrastructure from an "outperform" rating to a "market perform" rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $47.40.
View Our Latest Stock Analysis on Array Digital Infrastructure
Array Digital Infrastructure Trading Up 2.4%
Shares of NYSE:AD opened at $38.87 on Friday. Array Digital Infrastructure Inc. has a 52-week low of $33.71 and a 52-week high of $60.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $3.36 billion, a P/E ratio of 6.27 and a beta of 0.28. The company has a 50-day simple moving average of $35.45 and a 200 day simple moving average of $43.58.
Array Digital Infrastructure (NYSE:AD - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $3.88. Array Digital Infrastructure had a return on equity of 8.52% and a net margin of 250.79%.The firm had revenue of $54.07 million for the quarter. Sell-side analysts forecast that Array Digital Infrastructure Inc. will post 0.8 earnings per share for the current year.
About Array Digital Infrastructure
(
Free Report)
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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Want to see what other hedge funds are holding AD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Array Digital Infrastructure Inc. (NYSE:AD - Free Report).
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