Mesirow Financial Investment Management Inc. Has $212,000 Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Mesirow Financial Investment Management Inc. significantly cut its stake in InterDigital, Inc. by 51.1%, reducing its shares from 2,094 to 1,025, valued at approximately $212,000.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and Cerity Partners LLC, increased their holdings in InterDigital during the first quarter, highlighting a trend of investment interest.
• InterDigital reported strong quarterly earnings with $6.52 earnings per share, surpassing estimates and showing a 34.5% year-over-year revenue growth.

Mesirow Financial Investment Management Inc. trimmed its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 51.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,025 shares of the Wireless communications provider's stock after selling 1,069 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in InterDigital were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Elequin Capital LP acquired a new position in shares of InterDigital in the fourth quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new stake in InterDigital in the 1st quarter valued at $32,000. Concord Wealth Partners bought a new stake in InterDigital in the 1st quarter valued at $37,000. Versant Capital Management Inc boosted its stake in InterDigital by 957.9% in the 1st quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock valued at $42,000 after purchasing an additional 182 shares during the period. Finally, Transce3nd LLC bought a new stake in InterDigital in the 4th quarter valued at $110,000. 99.83% of the stock is currently owned by institutional investors.

InterDigital Stock Performance

IDCC traded up $17.65 during trading on Monday, hitting $270.45. The stock had a trading volume of 388,661 shares, compared to its average volume of 295,443. The company has a 50 day moving average price of $225.71 and a 200-day moving average price of $211.50. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.54 and a beta of 1.37. InterDigital, Inc. has a one year low of $129.76 and a one year high of $277.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $3.75. The business had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%. The firm's quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.57 EPS. As a group, research analysts predict that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 annualized dividend and a yield of 0.9%. InterDigital's payout ratio is currently 17.11%.

Insider Transactions at InterDigital

In other InterDigital news, Director Samir Armaly sold 779 shares of InterDigital stock in a transaction on Monday, June 9th. The stock was sold at an average price of $226.52, for a total value of $176,459.08. Following the completion of the transaction, the director directly owned 3,128 shares of the company's stock, valued at $708,554.56. The trade was a 19.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Derek K. Aberle sold 692 shares of InterDigital stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.41, for a total value of $156,675.72. Following the completion of the transaction, the director directly owned 6,192 shares of the company's stock, valued at $1,401,930.72. This represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,062 shares of company stock worth $920,853. Corporate insiders own 2.30% of the company's stock.

InterDigital 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.