Pacer Advisors Inc. Takes Position in Array Digital Infrastructure Inc. $AD

Pacer Advisors Inc. bought a new stake in Array Digital Infrastructure Inc. (NYSE:AD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 131,936 shares of the company’s stock, valued at approximately $7,074,000. Pacer Advisors Inc. owned about 0.16% of Array Digital Infrastructure at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada acquired a new stake in Array Digital Infrastructure in the 4th quarter worth about $25,000. Quadrant Capital Group LLC acquired a new position in shares of Array Digital Infrastructure during the 4th quarter valued at about $48,000. Empowered Funds LLC acquired a new position in shares of Array Digital Infrastructure during the 4th quarter valued at about $54,000. Harbour Investments Inc. purchased a new position in shares of Array Digital Infrastructure during the 4th quarter worth about $61,000. Finally, Signaturefd LLC purchased a new position in shares of Array Digital Infrastructure during the 4th quarter worth about $73,000. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on AD. Citigroup lowered their target price on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a report on Monday, February 23rd. JPMorgan Chase & Co. cut their price target on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Array Digital Infrastructure in a report on Thursday, June 11th. Royal Bank Of Canada lowered shares of Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price target on the stock. in a report on Tuesday, May 12th. Finally, Raymond James Financial cut shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.00.

Array Digital Infrastructure Stock Performance

Array Digital Infrastructure stock opened at $38.83 on Monday. Array Digital Infrastructure Inc. has a 12-month low of $38.40 and a 12-month high of $79.17. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 16.11 and a beta of 0.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s fifty day moving average price is $48.78 and its 200 day moving average price is $49.71.

Array Digital Infrastructure Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a dividend of $11.00 per share. The ex-dividend date is Thursday, June 11th.

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.