Pacer Advisors Inc. Sells 1,037,867 Shares of Adeia Inc. (NASDAQ:ADEA)

Pacer Advisors Inc. lowered its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 25.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,005,280 shares of the company's stock after selling 1,037,867 shares during the period. Pacer Advisors Inc. owned approximately 2.75% of Adeia worth $42,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after purchasing an additional 2,977 shares during the last quarter. Linden Thomas Advisory Services LLC purchased a new position in Adeia in the fourth quarter worth $142,000. Algert Global LLC bought a new position in Adeia in the 2nd quarter valued at $122,000. Hohimer Wealth Management LLC purchased a new stake in shares of Adeia during the 3rd quarter valued at $190,000. Finally, Seizert Capital Partners LLC purchased a new position in shares of Adeia in the 3rd quarter worth about $197,000. 97.36% of the stock is owned by institutional investors.

Adeia Stock Performance

Shares of NASDAQ ADEA traded down $0.29 during trading on Friday, reaching $12.89. 255,641 shares of the stock traded hands, compared to its average volume of 443,240. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. The stock has a market capitalization of $1.41 billion, a P/E ratio of 35.81 and a beta of 1.39. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $14.75. The company has a 50-day moving average of $13.33 and a 200-day moving average of $12.37.

Analyst Upgrades and Downgrades

ADEA has been the subject of a number of research analyst reports. BWS Financial restated a "buy" rating and set a $16.00 price objective on shares of Adeia in a report on Monday, January 13th. Rosenblatt Securities raised their price target on shares of Adeia from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th.

About Adeia

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.