SG Americas Securities LLC Sells 42,306 Shares of Adeia Inc. (NASDAQ:ADEA)

SG Americas Securities LLC lowered its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 73.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,513 shares of the company’s stock after selling 42,306 shares during the period. SG Americas Securities LLC’s holdings in Adeia were worth $192,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its stake in shares of Adeia by 635.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the company’s stock worth $25,000 after purchasing an additional 2,028 shares in the last quarter. FMR LLC bought a new stake in Adeia in the 1st quarter valued at $26,000. Carmel Capital Partners LLC bought a new stake in Adeia in the 3rd quarter valued at $33,000. Selway Asset Management bought a new stake in Adeia in the 3rd quarter valued at $36,000. Finally, Dark Forest Capital Management LP bought a new stake in Adeia in the 1st quarter valued at $40,000. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Down 2.0 %

ADEA opened at $10.20 on Friday. Adeia Inc. has a 1-year low of $7.12 and a 1-year high of $13.39. The stock’s fifty day simple moving average is $11.33 and its 200 day simple moving average is $10.68. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.11 billion, a PE ratio of 17.29 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Adeia had a return on equity of 42.74% and a net margin of 17.33%. The firm had revenue of $86.87 million for the quarter, compared to analyst estimates of $89.23 million. As a group, research analysts expect that Adeia Inc. will post 1.18 earnings per share for the current year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Monday, March 11th. Adeia’s dividend payout ratio is 33.90%.

Analysts Set New Price Targets

Separately, Rosenblatt Securities initiated coverage on Adeia in a research note on Friday, February 23rd. They issued a “buy” rating and a $15.00 price target on the stock.

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.