Quantbot Technologies LP Acquires Shares of 18,775 Array Digital Infrastructure Inc. $AD

Quantbot Technologies LP acquired a new stake in Array Digital Infrastructure Inc. (NYSE:AD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,775 shares of the company’s stock, valued at approximately $681,000.

A number of other hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada acquired a new stake in Array Digital Infrastructure during the fourth quarter worth about $25,000. Public Employees Retirement System of Ohio purchased a new stake in Array Digital Infrastructure in the 1st quarter worth approximately $33,000. Quadrant Capital Group LLC acquired a new stake in shares of Array Digital Infrastructure during the 4th quarter worth approximately $48,000. Empowered Funds LLC acquired a new stake in shares of Array Digital Infrastructure during the 4th quarter worth approximately $54,000. Finally, Harbour Investments Inc. purchased a new position in shares of Array Digital Infrastructure during the 4th quarter valued at approximately $61,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

Wall Street Analyst Weigh In

AD has been the subject of several analyst reports. Raymond James Financial cut shares of 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 $54.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Royal Bank Of Canada lowered their target price on shares of 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 cut their price target on Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, Weiss Ratings cut Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.40.

Array Digital Infrastructure Stock Performance

NYSE AD opened at $35.45 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $35.47 and its 200-day simple moving average is $44.02. The company has a market cap of $3.07 billion, a PE ratio of 5.72 and a beta of 0.26. Array Digital Infrastructure Inc. has a 1-year low of $33.71 and a 1-year high of $60.82.

Array Digital Infrastructure (NYSE:AD) last issued its quarterly earnings results on Friday, August 7th. The company reported $4.15 EPS for the quarter, topping 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 during the quarter. As a group, equities research analysts anticipate that Array Digital Infrastructure Inc. will post 0.8 EPS for the current fiscal year.

Array Digital Infrastructure Announces Dividend

The firm also recently announced a special dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a dividend of $11.00 per share. The ex-dividend date of this dividend was Thursday, June 11th.

Array Digital Infrastructure Company 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.