Merit Financial Group LLC Trims Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Merit Financial Group LLC decreased its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 31.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,161 shares of the Wireless communications provider's stock after selling 3,827 shares during the period. Merit Financial Group LLC's holdings in InterDigital were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDCC. Russell Investments Group Ltd. grew its position in InterDigital by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,932 shares of the Wireless communications provider's stock worth $568,000 after purchasing an additional 51 shares during the period. Savant Capital LLC grew its position in shares of InterDigital by 2.8% during the 4th quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider's stock valued at $461,000 after acquiring an additional 64 shares during the period. Summit Investment Advisors Inc. grew its position in shares of InterDigital by 3.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,646 shares of the Wireless communications provider's stock valued at $513,000 after acquiring an additional 83 shares during the period. Louisiana State Employees Retirement System grew its position in shares of InterDigital by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider's stock valued at $2,383,000 after acquiring an additional 100 shares during the period. Finally, Global Retirement Partners LLC grew its position in shares of InterDigital by 504.5% during the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock valued at $26,000 after acquiring an additional 111 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Price Performance

Shares of NASDAQ:IDCC traded up $0.80 during trading on Friday, reaching $227.31. 240,021 shares of the company's stock traded hands, compared to its average volume of 387,606. InterDigital, Inc. has a fifty-two week low of $114.42 and a fifty-two week high of $231.97. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The firm has a market cap of $5.90 billion, a PE ratio of 18.88, a P/E/G ratio of 1.57 and a beta of 1.37. The company has a 50-day simple moving average of $206.82 and a 200-day simple moving average of $201.65.

Insider Buying and Selling

In related news, insider Joshua D. Schmidt sold 1,781 shares of InterDigital stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $218.00, for a total value of $388,258.00. Following the sale, the insider now directly owns 24,395 shares in the company, valued at approximately $5,318,110. The trade was a 6.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $218.08, for a total value of $152,656.00. Following the completion of the sale, the chief technology officer now owns 71,606 shares in the company, valued at approximately $15,615,836.48. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,181 shares of company stock worth $667,635. Insiders own 2.80% of the company's stock.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.