1,815,844 Shares in Array Digital Infrastructure Inc. $AD Purchased by Jericho Capital Asset Management L.P.

Jericho Capital Asset Management L.P. acquired a new stake in Array Digital Infrastructure Inc. (NYSE:AD) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,815,844 shares of the company’s stock, valued at approximately $97,366,000. Array Digital Infrastructure makes up 1.1% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 22nd biggest position.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC bought a new position in Array Digital Infrastructure during the fourth quarter worth $48,000. Empowered Funds LLC bought a new position in Array Digital Infrastructure during the fourth quarter worth $54,000. Harbour Investments Inc. acquired a new position in shares of Array Digital Infrastructure in the fourth quarter valued at $61,000. Finally, Signaturefd LLC acquired a new position in shares of Array Digital Infrastructure in the fourth quarter valued at $73,000. 18.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AD has been the topic of several research analyst reports. 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 objective on the stock. in a research report on Tuesday, May 12th. Raymond James Financial lowered shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Citigroup lowered their price target on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Wall Street Zen downgraded shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Array Digital Infrastructure presently has an average rating of “Hold” and a consensus price target of $54.00.

Array Digital Infrastructure Trading Down 1.8%

AD stock opened at $38.97 on Thursday. Array Digital Infrastructure Inc. has a 52 week low of $38.88 and a 52 week high of $79.17. The company has a market capitalization of $3.37 billion, a PE ratio of 16.17 and a beta of 0.22. The company’s 50-day simple moving average is $49.17 and its 200 day simple moving average is $49.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 1.03.

Array Digital Infrastructure Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given 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.