Array Digital Infrastructure (NYSE:AD) Shares Gap Up After Dividend Announcement

Shares of Array Digital Infrastructure Inc. (NYSE:AD) gapped up prior to trading on Wednesday after the company announced a dividend. The stock had previously closed at $53.65, but opened at $56.25. Array Digital Infrastructure shares last traded at $57.6680, with a volume of 68,434 shares traded.

The newly announced dividend which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 23rd will be given a dividend of $10.25 per share. The ex-dividend date of this dividend is Friday, January 23rd.

Analyst Ratings Changes

Several analysts have recently weighed in on AD shares. Citigroup lifted their price objective on shares of Array Digital Infrastructure from $37.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Wells Fargo & Company decreased their price target on shares of Array Digital Infrastructure from $82.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Wall Street Zen lowered shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Monday, November 17th. Royal Bank Of Canada cut their price objective on shares of Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.33.

Array Digital Infrastructure Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.65 and a quick ratio of 0.65. The company’s fifty day moving average price is $50.30. The firm has a market cap of $4.74 billion, a PE ratio of 309.67 and a beta of 0.17.

Institutional Trading of Array Digital Infrastructure

An institutional investor recently bought a new position in Array Digital Infrastructure stock. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Array Digital Infrastructure Inc. (NYSE:AD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,978 shares of the company’s stock, valued at approximately $910,000. Institutional investors own 18.03% of the company’s stock.

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.