VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Array Digital Infrastructure Inc. $AD

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Array Digital Infrastructure Inc. (NYSE:AD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 18,648 shares of the company’s stock, valued at approximately $1,000,000.

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

Array Digital Infrastructure Trading Down 1.6%

AD opened at $50.13 on Friday. The stock has a market capitalization of $4.33 billion, a PE ratio of 20.80 and a beta of 0.23. The firm’s fifty day moving average price is $48.61 and its 200 day moving average price is $49.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.03 and a quick ratio of 0.72. Array Digital Infrastructure Inc. has a 12-month low of $44.03 and a 12-month 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 (EPS) 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%. The firm’s revenue was up 131.2% compared to the same quarter last year. As a group, research analysts expect that Array Digital Infrastructure Inc. will post 0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on AD shares. Weiss Ratings raised shares of Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, March 16th. Wells Fargo & Company reduced 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. Royal Bank Of Canada cut shares of Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 target price on the stock. in a research report on Tuesday, May 12th. Raymond James Financial cut shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $54.00.

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.