Adeia Inc. (NASDAQ:ADEA) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,043,147 shares of the company's stock after selling 504,670 shares during the period. Pacer Advisors Inc. owned 3.71% of Adeia worth $48,154,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Adeia in the 2nd quarter valued at about $47,000. EMC Capital Management increased its stake in Adeia by 27.8% in the first quarter. EMC Capital Management now owns 10,856 shares of the company's stock valued at $119,000 after purchasing an additional 2,360 shares during the last quarter. Algert Global LLC acquired a new stake in Adeia during the second quarter worth approximately $122,000. Seizert Capital Partners LLC purchased a new stake in shares of Adeia during the 3rd quarter worth approximately $197,000. Finally, Aristides Capital LLC acquired a new position in shares of Adeia in the 1st quarter valued at $213,000. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Stock Performance

Shares of ADEA stock traded down $0.05 during trading hours on Friday, hitting $12.05. The stock had a trading volume of 397,439 shares, compared to its average volume of 480,990. The stock's 50 day moving average is $12.13 and its 200 day moving average is $11.67. The firm has a market capitalization of $1.32 billion, a PE ratio of 33.61 and a beta of 1.44. Adeia Inc. has a twelve month low of $9.05 and a twelve month high of $14.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.66%. Adeia's payout ratio is 55.56%.

Analyst Upgrades and Downgrades

ADEA has been the topic of several research analyst reports. BWS Financial reiterated a "buy" rating and set a $16.00 price target on shares of Adeia in a research note on Monday, November 11th. Rosenblatt Securities reiterated a "buy" rating and set a $15.00 target price on shares of Adeia in a research report on Friday, November 8th.

Adeia 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.