Convergence Investment Partners LLC Acquires 121,036 Shares of ADT Inc. $ADT

Convergence Investment Partners LLC increased its holdings in ADT Inc. (NYSE:ADT) by 127.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,021 shares of the security and automation business’s stock after purchasing an additional 121,036 shares during the period. Convergence Investment Partners LLC’s holdings in ADT were worth $1,830,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ADT. GAMMA Investing LLC boosted its holdings in ADT by 69.5% in the second quarter. GAMMA Investing LLC now owns 3,240 shares of the security and automation business’s stock worth $27,000 after purchasing an additional 1,329 shares in the last quarter. AlphaQuest LLC boosted its holdings in ADT by 80.9% in the first quarter. AlphaQuest LLC now owns 5,301 shares of the security and automation business’s stock worth $43,000 after purchasing an additional 2,370 shares in the last quarter. Bayforest Capital Ltd bought a new stake in ADT in the first quarter worth $74,000. NorthRock Partners LLC bought a new stake in ADT in the second quarter worth $85,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in ADT during the 2nd quarter worth $86,000. 87.22% of the stock is currently owned by institutional investors.

ADT Stock Up 0.6%

Shares of ADT opened at $8.77 on Monday. The company has a 50-day simple moving average of $8.67 and a 200-day simple moving average of $8.43. The firm has a market capitalization of $7.29 billion, a P/E ratio of 13.28 and a beta of 1.05. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.37 and a current ratio of 0.46. ADT Inc. has a 52 week low of $6.71 and a 52 week high of $8.94.

ADT (NYSE:ADT) last announced its quarterly earnings data on Friday, April 22nd. The security and automation business reported ($0.12) EPS for the quarter. The company had revenue of $1.31 billion for the quarter. ADT had a net margin of 12.30% and a return on equity of 18.58%. On average, equities research analysts expect that ADT Inc. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADT shares. Weiss Ratings reissued a “buy (b)” rating on shares of ADT in a research report on Friday. Zacks Research lowered shares of ADT from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Wall Street Zen lowered shares of ADT from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 28th. Morgan Stanley boosted their target price on shares of ADT from $9.00 to $9.50 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. Finally, Citigroup boosted their target price on shares of ADT from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.38.

ADT Company Profile

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.