Select Equity Group L.P. Has $9.62 Million Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Select Equity Group L.P. cut its position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 688,064 shares of the company's stock after selling 33,881 shares during the quarter. Select Equity Group L.P. owned about 0.63% of Adeia worth $9,619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Adeia in the fourth quarter valued at about $33,000. Picton Mahoney Asset Management grew its stake in shares of Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock valued at $39,000 after buying an additional 972 shares in the last quarter. KBC Group NV grew its stake in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company's stock valued at $97,000 after purchasing an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new position in Adeia during the 4th quarter worth approximately $142,000. Finally, Cibc World Markets Corp bought a new position in Adeia during the 4th quarter worth approximately $142,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Stock Performance

Shares of Adeia stock traded up $0.04 on Thursday, reaching $13.05. The stock had a trading volume of 128,852 shares, compared to its average volume of 538,718. The stock has a market cap of $1.42 billion, a P/E ratio of 22.88 and a beta of 1.57. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The business's 50-day moving average price is $12.82 and its two-hundred day moving average price is $13.26. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53.

Adeia (NASDAQ:ADEA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter in the previous year, the firm posted $0.27 EPS. On average, sell-side analysts forecast that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 27th. This represents a $0.20 annualized dividend and a yield of 1.53%. Adeia's dividend payout ratio is 30.30%.

Analyst Ratings Changes

Several analysts have weighed in on ADEA shares. Maxim Group lifted their target price on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. BWS Financial reissued a "buy" rating and issued a $18.00 price target on shares of Adeia in a research note on Tuesday, May 6th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $17.00 price target on shares of Adeia in a research note on Tuesday, May 6th.

Adeia Company 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.