Jane Street Group LLC Buys 79,565 Shares of Adeia Inc. (NASDAQ:ADEA)

Jane Street Group LLC increased its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 66.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,812 shares of the company's stock after purchasing an additional 79,565 shares during the quarter. Jane Street Group LLC owned 0.18% of Adeia worth $2,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ADEA. Wellington Management Group LLP grew its stake in shares of Adeia by 1.7% during the third quarter. Wellington Management Group LLP now owns 1,096,117 shares of the company's stock valued at $13,055,000 after buying an additional 18,664 shares during the last quarter. State Street Corp boosted its holdings in Adeia by 2.1% during the 3rd quarter. State Street Corp now owns 4,346,537 shares of the company's stock valued at $51,767,000 after acquiring an additional 91,288 shares during the period. Systematic Financial Management LP boosted its holdings in Adeia by 17.0% during the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company's stock valued at $25,728,000 after acquiring an additional 313,741 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Adeia during the 3rd quarter worth approximately $8,412,000. Finally, Harvey Partners LLC increased its stake in Adeia by 5.8% in the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company's stock worth $36,349,000 after purchasing an additional 168,000 shares during the period. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Trading Up 0.1 %

NASDAQ ADEA traded up $0.02 on Monday, hitting $13.68. The company's stock had a trading volume of 541,385 shares, compared to its average volume of 495,792. The firm has a market cap of $1.49 billion, a P/E ratio of 38.00 and a beta of 1.42. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $14.75. The company's 50-day simple moving average is $12.70 and its 200 day simple moving average is $11.94. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia's payout ratio is 55.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Rosenblatt Securities raised their target price on shares of Adeia from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. BWS Financial restated a "buy" rating and issued a $16.00 price objective on shares of Adeia in a research report on Wednesday, December 4th.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.