UBS Group AG Purchases New Holdings in Array Digital Infrastructure Inc. $AD

UBS Group AG purchased a new stake in shares of Array Digital Infrastructure Inc. (NYSE:AD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,516 shares of the company’s stock, valued at approximately $2,816,000.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC acquired a new position in Array Digital Infrastructure during the fourth quarter valued at approximately $73,000. Harbor Capital Advisors Inc. acquired a new position in Array Digital Infrastructure during the fourth quarter valued at approximately $99,000. Arizona State Retirement System acquired a new position in Array Digital Infrastructure during the fourth quarter valued at approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $326,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $483,000. 18.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Citigroup cut their price objective on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Wall Street Zen cut Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Royal Bank Of Canada cut Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price objective for the company. in a research report on Tuesday, May 12th. Finally, Raymond James Financial cut Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Array Digital Infrastructure currently has an average rating of “Hold” and a consensus target price of $54.00.

Array Digital Infrastructure Stock Performance

AD opened at $50.61 on Tuesday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 21.00 and a beta of 0.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.36. Array Digital Infrastructure Inc. has a 12-month low of $44.03 and a 12-month high of $79.17. The business has a 50 day moving average of $48.86 and a 200-day moving average of $49.68.

Array Digital Infrastructure (NYSE:AD) last announced its earnings results on Friday, February 20th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. The company had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a return on equity of 6.69% and a net margin of 19.32%.The company’s quarterly revenue was up 131.2% compared to the same quarter last year. On average, equities research analysts expect that Array Digital Infrastructure Inc. will post 0.97 earnings per share for the current year.

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.