Quantbot Technologies LP Makes New $681,000 Investment in Array Digital Infrastructure Inc. $AD

Quantbot Technologies LP bought a new position in shares of Array Digital Infrastructure Inc. (NYSE:AD) during the 2nd quarter, HoldingsChannel reports. The fund bought 18,775 shares of the company’s stock, valued at approximately $681,000.

A number of other large investors have also made changes to their positions in AD. Dimensional Fund Advisors LP lifted its position in Array Digital Infrastructure by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,299,582 shares of the company’s stock worth $106,102,000 after buying an additional 57,198 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Array Digital Infrastructure by 423.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 99,990 shares of the company’s stock valued at $4,614,000 after buying an additional 80,872 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Array Digital Infrastructure in the 4th quarter valued at $1,000,000. Carlson Capital L.P. purchased a new stake in Array Digital Infrastructure in the 4th quarter valued at $504,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Array Digital Infrastructure in the 4th quarter worth $51,720,000. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

Array Digital Infrastructure Stock Down 0.6%

Shares of NYSE AD opened at $35.45 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $35.47 and its two-hundred day moving average is $44.02. Array Digital Infrastructure Inc. has a 52-week low of $33.71 and a 52-week high of $60.82. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 5.72 and a beta of 0.26.

Array Digital Infrastructure (NYSE:AD) last released 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 business had revenue of $54.07 million during the quarter. Research analysts predict that Array Digital Infrastructure Inc. will post 0.8 EPS for the current year.

Array Digital Infrastructure Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank Of Canada reduced their price target on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating on the stock in a report on Friday, July 10th. Raymond James Financial lowered shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a report 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 research report on Wednesday, August 19th. Citigroup reduced their target price on shares of Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings lowered shares of 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.40.

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.