On May 20, 2023, Mirae Asset Global Investments Co. Ltd. announced that it had trimmed its position in ADT Inc. (NYSE:ADT) by 5.7% during the fourth quarter. According to their most recent SEC filing, they currently own about 0.18% of ADT and sold approximately 101,047 shares, keeping a total of 1,661,214 shares worth $15,067,000.
In February of the same year, ADT reported its earnings data announcing an EPS of $0.08 for the quarter while missing analysts’ consensus estimates of $0.19 by ($0.11). The company’s revenue for the quarter equaled $1.65 billion compared to analysts’ predictions of $1.59 billion.
Despite these results and investors’ skepticism towards the company’s performance over the past few months, CEO James David Devries acquired substantial amounts of ADT’s stock in early May 2023 amounting to a total value of $248k and therefore boosting his shares from 2,081,705 to 2,131,705 in total worth over $10 million.
Moreover, Vice President Jamie Elizabeth Haenggi made significant purchases on May 5th purchasing around $579k worth of ADT’s stock at an average price point of $5.79 per share and owning approximately around $8 million worth with her latest purchase.
These insider acquisitions may signify something substantial regarding the company’s future performance as shareholder confidence is boosted due to investments made by top-tier officials within the organization itself.
Given recent events surrounding corporate governance and scrutiny regarding companies and institutional investors operating within legal loopholes taking advantage of current market conditions regardless if it affects ordinary individuals; it is refreshing to see insider trades being performed willingly without any implications or fallout from regulators or other third-party observers.
It remains unclear what further developments may arise within ADT’s stock and that of other listed companies from this quarter onwards. Nonetheless, investors and stakeholders can remain assured that the company is taking all necessary steps to ensure its continued success in the market.
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Hedge Funds and Institutional Investors Make Moves in ADT Holdings
ADT Inc. (NYSE: ADT) has seen a number of changes to its holdings from hedge funds and institutional investors recently. The Treasurer of the State of North Carolina raised its position in ADT by 1.3% during Q3 2022 and now owns over 89,000 shares valued at $671,000. Similarly, National Bank of Canada FI increased its stake in the security and automation business’s stock by an impressive 198% during Q4 2022. Additionally, Arizona State Retirement System lifted its ADT holdings by 4.5%, while HighTower Advisors LLC increased theirs by 11.6%. Finally, Mitsubishi UFJ Kokusai Asset Management Co Ltd raised its position in ADT by 2.4% in the fourth quarter.
Following on from this news, shares of NYSE ADT opened at $6.05 on Friday, with a fifty-day moving average price of $6.68 and a market cap of $5.58 billion. However, despite these fluctuations in shareholder positions, the company’s debt-to-equity ratio currently stands at 2.83.
In recent weeks there has been notable insider activity in relation to the company with CEO James David Devries acquiring 50,000 shares worth approximately $248,000 on Thursday, May 4th and VP Jamie Elizabeth Haenggi also acquiring shares of the firm’s stock.
It was also announced recently that ADT will pay out a quarterly dividend to shareholders on July 6th; investors who were recorded as such on June 15th will be paid a dividend of $0.035 per share. Despite this positive news for investors however, Citigroup has decreased their price target on shares from $11 to just $9 after conducting new research into the sector.
Overall then it is evident that those firms who have modified their holdings or are maintaining their current positions may benefit from what some experts are predicting will be an upswing in fortunes for ADT.
