ADT Corp (ADT) Bonds Trading 1% Higher
An issue of ADT Corp (NYSE:ADT) debt rose 1% against its face value during trading on Wednesday. The debt issue has a 3.5% coupon and will mature on July 15, 2022. The debt is now trading at $92.50 and was trading at $95.00 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
ADT Corp (NYSE:ADT) opened at 41.98 on Friday. ADT Corp has a 12-month low of $24.22 and a 12-month high of $41.98. The stock has a 50 day moving average price of $41.98 and a 200-day moving average price of $41.98.
Several large investors have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC purchased a new stake in ADT Corp during the first quarter worth about $247,000. Moore Capital Management LP purchased a new stake in ADT Corp during the first quarter worth about $689,000. York Capital Management Global Advisors LLC purchased a new stake in ADT Corp during the first quarter worth about $10,185,000. Panagora Asset Management Inc. increased its stake in ADT Corp by 11.4% in the first quarter. Panagora Asset Management Inc. now owns 526,642 shares of the company’s stock worth $21,729,000 after buying an additional 53,913 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in ADT Corp by 108.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 245,404 shares of the company’s stock worth $10,125,000 after buying an additional 127,400 shares during the period.
About ADT Corp
The ADT Corporation (ADT) is a provider of electronic security, interactive home and business automation, and monitoring services for residences and small businesses in the United States and Canada. The Company’s products and services include home and business solutions, and home health services. The Company’s brands include ADT, ADT Pulse and Companion Service.
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