Tiptree Advisors LLC Takes Position in Array Digital Infrastructure Inc. $AD

Tiptree Advisors LLC purchased a new position in Array Digital Infrastructure Inc. (NYSE:AD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 203,115 shares of the company’s stock, valued at approximately $7,365,000. Array Digital Infrastructure makes up about 4.6% of Tiptree Advisors LLC’s holdings, making the stock its 8th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP purchased a new stake in Array Digital Infrastructure during the 4th quarter valued at about $120,237,000. Jericho Capital Asset Management L.P. acquired a new stake in Array Digital Infrastructure in the 4th quarter valued at about $97,366,000. Vanguard Group Inc. purchased a new position in Array Digital Infrastructure in the 4th quarter worth approximately $76,634,000. Gamco Investors INC. ET AL purchased a new position in Array Digital Infrastructure in the 4th quarter worth approximately $51,720,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $40,842,000. 18.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AD has been the subject of a number of analyst reports. Raymond James Financial lowered Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their price objective on Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Wall Street Zen lowered Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings cut Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. Finally, Citigroup reduced their price target on Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.40.

Array Digital Infrastructure Trading Down 0.9%

AD opened at $35.55 on Thursday. Array Digital Infrastructure Inc. has a 52 week low of $33.71 and a 52 week high of $60.82. The business has a fifty day simple moving average of $35.54 and a 200-day simple moving average of $44.12. The firm has a market cap of $3.08 billion, a P/E ratio of 5.73 and a beta of 0.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52.

Array Digital Infrastructure (NYSE:AD) last posted 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. On average, equities analysts expect that Array Digital Infrastructure Inc. will post 0.8 earnings per share for the current year.

Array Digital Infrastructure Announces Dividend

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

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.