Vanguard Group Inc. Purchases Shares of 1,429,210 Array Digital Infrastructure Inc. $AD

Vanguard Group Inc. purchased a new stake in Array Digital Infrastructure Inc. (NYSE:AD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,429,210 shares of the company’s stock, valued at approximately $76,634,000. Vanguard Group Inc. owned 1.68% of Array Digital Infrastructure at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $73,000. Harbor Capital Advisors Inc. acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $99,000. Arizona State Retirement System acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $326,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $483,000. 18.03% of the stock is owned by institutional investors and hedge funds.

Array Digital Infrastructure Trading Down 1.2%

Shares of AD stock opened at $50.88 on Thursday. The company’s 50-day moving average price is $48.56 and its 200-day moving average price is $49.61. The company has a current ratio of 1.03, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 21.11 and a beta of 0.23. Array Digital Infrastructure Inc. has a twelve month low of $44.03 and a twelve month high of $79.17.

Array Digital Infrastructure (NYSE:AD) last announced its quarterly earnings results on Friday, February 20th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.18. The firm had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a net margin of 19.32% and a return on equity of 6.69%. Array Digital Infrastructure’s revenue for the quarter was up 131.2% on a year-over-year basis. As a group, equities analysts predict that Array Digital Infrastructure Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AD shares. Weiss Ratings raised Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday, March 16th. Wall Street Zen cut Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citigroup dropped their price target 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. Royal Bank Of Canada cut Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price target for the company. in a research report on Tuesday. Finally, Raymond James Financial cut Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $54.00.

Array Digital Infrastructure 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.