Investment Thesis
Famed value investor, Bill Miller, has as his fifth-largest portfolio holding ADT (ADT). This insight, combined with the fact that its shares are trading at close to all-time lows, incited me to look further.
I conclude by finding that, notwithstanding some positive dynamics to attempt to maximize shareholder value, ADT is still too expensive and best avoided, for now.
Q2 2019 Results: Promising, On The Surface
ADT's reported Q2 2019 results pointed to top-line growth of 13% to $1.3 billion compared with the same period a year ago, while its