Array Digital Infrastructure (AD)

UNITED STATES CELLULAR CORPORATION • BANGOR CELLULAR TELEPHONE, L.P. • CALIFORNIA RURAL SERVICE AREA #1, INC. • CEDAR RAPIDS CELLULAR TELEPHONE, L.P. • CELLVEST, INC. • CENTRAL CELLULAR TELEPHONES, LTD. • CHAMPLAIN CELLULAR, INC. • COMMUNITY CELLULAR TELEPHONE COMPANY • CROWN POINT CELLULAR, INC. • DUBUQUE CELLULAR TELEPHONE, L.P. ...

IRS number

621147325

AD stock data

1M 3M 6M 1Y

Analyst ratings and price targets

Last 3 months

Average target

$57.67

Low target

$54.00

High target

$63.00

Latest filings (excl ownership)

View all

8-K

Array completes sale of select spectrum assets to AT&T for $1.018 billion

13 Jan 26

8-K

Entry into a Material Definitive Agreement

12 Dec 25

8-K

Departure of Directors or Certain Officers

7 Nov 25

Array reports third quarter 2025 results

7 Nov 25

8-K

Submission of Matters to a Vote of Security Holders

10 Oct 25

ARS

2024 FY

Annual report to shareholders

26 Aug 25

DEFA14A

Additional proxy soliciting materials

11 Aug 25

Latest ownership filings

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Notice of proposed sale of securities

18 Aug 25

144

Notice of proposed sale of securities

Notice of proposed sale of securities

13 Aug 25

144

Notice of proposed sale of securities

12 Aug 25

144

Notice of proposed sale of securities

12 Aug 25

144

Notice of proposed sale of securities

12 Aug 25

Financial summary

Financial statements Chart AD financial data

Quarter (USD)	Sep 25	Jun 25	Mar 25	Dec 24
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 24	Dec 23	Dec 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	325.63 mm	325.63 mm	325.63 mm	325.63 mm	325.63 mm	325.63 mm
Cash burn (monthly)	25.12 mm	(no burn)	17.77 mm	(no burn)	27.37 mm	(no burn)
Cash used (since last report)	112.86 mm	n/a	79.82 mm	n/a	122.93 mm	n/a
Cash remaining	212.77 mm	n/a	245.80 mm	n/a	202.70 mm	n/a
Runway (months of cash)	8.5	n/a	13.8	n/a	7.4	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2024

AD institutional ownership history Ownership history

98.3% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	139	136	+2.2%
Opened positions	24	19	+26.3%
Closed positions	21	28	-25.0%
Increased positions	48	34	+41.2%
Reduced positions	33	40	-17.5%

13F shares	Current	Prev Q	Change
Total value	808.26 bn	742.04 bn	+8.9%
Total shares	84.52 mm	85.20 mm	-0.8%
Total puts	33.00 k	64.13 k	-48.5%
Total calls	445.90 k	307.90 k	+44.8%
Total put/call ratio	0.1	0.2	-64.5%

Largest owners	Shares	Value	Change
TDS Telephone and Data Systems	70.79 mm	$3.89 bn	0.0%
Dimensional Fund Advisors	2.26 mm	$141.97 bn	-0.9%
Jericho Capital Asset Management	1.82 mm	$113.89 bn	+2.0%
Vanguard	1.51 mm	$94.68 bn	-0.1%
Gamco Investors	1.33 mm	$83.48 bn	-2.8%
Gabelli Funds	709.15 k	$44.48 bn	+0.4%
Loomis Sayles & Co L P	629.20 k	$39.46 mm	-0.8%
Alyeska Investment	480.25 k	$30.12 bn	+73.9%
American Century Companies	464.69 k	$29.15 bn	+12.4%
Citadel Advisors	435.63 k	$27.32 bn	-20.3%

Largest transactions	Shares	Bought/sold	Change
Third Point	0.00	-545.34 k	EXIT
Millennium Management	270.67 k	-263.76 k	-49.4%
Alyeska Investment	480.25 k	+204.15 k	+73.9%
Bridgeway Capital Management	62.88 k	-153.25 k	-70.9%
Citadel Advisors	435.63 k	-111.12 k	-20.3%
UBS UBS	92.06 k	+66.87 k	+265.5%
Man Group Limited	114.47 k	+63.50 k	+124.6%
Empowered Funds	35.31 k	-55.81 k	-61.2%
Arrowstreet Capital, Limited Partnership	0.00	-53.13 k	EXIT
D. E. Shaw & Co.	179.91 k	+52.40 k	+41.1%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

AD insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
2 Jan 26	Anthony J Carlson	Common Shares	Payment of exercise	Dispose F	No	No	54	1,355	73.17 k	8,274
2 Jan 26	Anthony J Carlson	Common Shares	Option exercise	Acquire M	No	No	54	5,022	271.19 k	9,629
2 Jan 26	Anthony J Carlson	Deferred Compensation Common Shares	Option exercise	Dispose M	No	No	0	5,022	0.00	4,489
18 Aug 25	Harry J Harczak JR	Common Shares	Sell	Dispose S	No	No	76.2025	1,960	149.36 k	19,374
12 Aug 25	Chambers Douglas W	Common Shares	Sell	Dispose S	No	No	75.77	93,300	7.07 mm	17,600
1 Aug 25	Esteban C Iriarte	Common Shares	Grant	Acquire A	No	No	73.5	1,960	144.06 k	9,553

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.