11,000 Shares in Array Digital Infrastructure Inc. $AD Purchased by Welch Group LLC

Welch Group LLC purchased a new stake in Array Digital Infrastructure Inc. (NYSE:AD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,000 shares of the company’s stock, valued at approximately $590,000.

Several other large investors have also recently bought and sold shares of AD. Aberdeen Group plc bought a new stake in shares of Array Digital Infrastructure during the fourth quarter worth approximately $15,528,000. State of Alaska Department of Revenue bought a new position in shares of Array Digital Infrastructure during the fourth quarter worth approximately $5,187,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Array Digital Infrastructure during the fourth quarter worth approximately $910,000. Harbor Capital Advisors Inc. acquired a new stake in Array Digital Infrastructure during the 4th quarter worth approximately $99,000. Finally, Signaturefd LLC acquired a new stake in Array Digital Infrastructure during the 4th quarter worth approximately $73,000. 18.03% of the stock is owned by institutional investors.

Array Digital Infrastructure Price Performance

Shares of NYSE AD opened at $49.49 on Friday. The business has a fifty day moving average price of $48.41 and a two-hundred day moving average price of $49.60. The stock has a market capitalization of $4.21 billion, a PE ratio of 88.38 and a beta of 0.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.72 and a quick 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 released its earnings results on Friday, February 20th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.18. The company had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.Array Digital Infrastructure’s quarterly revenue was up 131.2% on a year-over-year basis.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Raymond James Financial set a $53.00 price objective on Array Digital Infrastructure in a report on Monday, February 23rd. Wells Fargo & Company reduced their target price on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Weiss Ratings upgraded shares of Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday, March 16th. Wall Street Zen upgraded shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Royal Bank Of Canada cut their price objective on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Array Digital Infrastructure has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

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.