Aberdeen Group plc Invests $15.53 Million in Array Digital Infrastructure Inc. $AD

Aberdeen Group plc purchased a new position in Array Digital Infrastructure Inc. (NYSE:AD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 289,600 shares of the company’s stock, valued at approximately $15,528,000. Aberdeen Group plc owned 0.34% of Array Digital Infrastructure as of its most recent filing with the Securities and Exchange Commission.

Separately, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Array Digital Infrastructure during the 4th quarter valued at $910,000. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AD has been the topic of a number of research reports. Raymond James Financial set a $53.00 target price on shares of Array Digital Infrastructure in a research report on Monday, February 23rd. Royal Bank Of Canada dropped their target price on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Wall Street Zen upgraded shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Wells Fargo & Company dropped their target price on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Finally, Citigroup dropped their target price on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Array Digital Infrastructure Price Performance

AD opened at $48.43 on Tuesday. The firm has a market cap of $4.12 billion, a P/E ratio of 86.48 and a beta of 0.17. The firm has a 50-day moving average of $48.27 and a 200 day moving average of $49.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.72. Array Digital Infrastructure Inc. has a fifty-two week low of $44.03 and a fifty-two week high of $79.17.

Array Digital Infrastructure (NYSE:AD) last posted 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 company had revenue of $60.33 million during the quarter. Array Digital Infrastructure had a net margin of 2.51% and a return on equity of 4.89%. The business’s quarterly revenue was up 131.2% compared to the same quarter last year.

Array Digital Infrastructure Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 23rd were issued a dividend of $10.25 per share. The ex-dividend date of this dividend was Friday, January 23rd.

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.