Hsbc Holdings PLC Acquires Shares of 21,903 Array Digital Infrastructure Inc. $AD

Hsbc Holdings PLC acquired a new stake in shares of Array Digital Infrastructure Inc. (NYSE:AD) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 21,903 shares of the company’s stock, valued at approximately $1,176,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. bought a new stake in Array Digital Infrastructure during the 4th quarter valued at $910,000. Aberdeen Group plc bought a new stake in Array Digital Infrastructure in the 4th quarter worth $15,528,000. Harbor Capital Advisors Inc. purchased a new position in shares of Array Digital Infrastructure in the fourth quarter valued at about $99,000. Signaturefd LLC purchased a new position in shares of Array Digital Infrastructure in the fourth quarter valued at about $73,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Array Digital Infrastructure during the fourth quarter valued at about $5,187,000. Institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Stock Performance

Array Digital Infrastructure stock opened at $34.67 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3.00 billion, a P/E ratio of 14.39 and a beta of 0.25. The stock’s 50 day moving average is $44.98 and its 200 day moving average is $48.22. Array Digital Infrastructure Inc. has a twelve month low of $34.09 and a twelve month high of $79.17.

Array Digital Infrastructure Dividend Announcement

The business also recently announced a special dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a $11.00 dividend. The ex-dividend date of this dividend was Thursday, June 11th.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating for the company in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Array Digital Infrastructure in a report on Thursday, June 11th. JPMorgan Chase & Co. lowered their price target on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Wall Street Zen cut Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Raymond James Financial lowered Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.60.

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.