Leading provider of automated security solutions ADT, Inc. (ADT, Financial) also traded lower in the period. We believe this priceaction runs counter to the company’s improving long-term fundamental outlook. Despite investor concerns over do-it-yourself competition, ADT’s investment in customer acquisition continues to pay off, showcased by this most recent quarter’s excellent gross recurring monthly revenue growth. Longer term, we believe ADT’s industry-leading brand and national presence, coupled with a nascent partnership with Google, positions it to be a prime beneficiary of growing demand for smart home technologies, including fully monitored residential security.
From John Rogers (Trades, Portfolio)' Ariel Fund third-quarter 2021 commentary.
