Merit Financial Group LLC Sells 3,827 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Merit Financial Group LLC lessened its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 31.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,161 shares of the Wireless communications provider's stock after selling 3,827 shares during the quarter. 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.

Several other institutional investors also recently made changes to their positions in the stock. Boston Partners raised its stake in shares of InterDigital by 5.5% during the 4th quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider's stock worth $311,654,000 after buying an additional 83,794 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of InterDigital by 3.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider's stock valued at $118,722,000 after purchasing an additional 21,319 shares during the period. Geode Capital Management LLC increased its stake in shares of InterDigital by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock valued at $115,240,000 after acquiring an additional 1,991 shares during the last quarter. Invesco Ltd. raised its stake in InterDigital by 4.7% during the fourth quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock worth $63,511,000 after purchasing an additional 14,809 shares during the period. Finally, Congress Asset Management Co. acquired a new position in InterDigital in the fourth quarter valued at $62,583,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $181.03, for a total value of $126,721.00. Following the completion of the sale, the chief technology officer now directly owns 78,161 shares in the company, valued at approximately $14,149,485.83. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joshua D. Schmidt sold 1,781 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $218.00, for a total transaction of $388,258.00. Following the sale, the insider now directly owns 24,395 shares of the company's stock, valued at approximately $5,318,110. This represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,181 shares of company stock valued at $667,635. Insiders own 2.80% of the company's stock.

InterDigital Trading Down 2.8%

IDCC stock traded down $6.32 during midday trading on Tuesday, reaching $221.64. 247,616 shares of the company's stock traded hands, compared to its average volume of 385,389. InterDigital, Inc. has a fifty-two week low of $114.42 and a fifty-two week high of $231.97. The business has a 50-day moving average price of $207.68 and a two-hundred day moving average price of $202.05. The company has a market capitalization of $5.75 billion, a P/E ratio of 18.41, a PEG ratio of 1.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70.

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.