Townsquare Capital LLC Has $4 Million Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Townsquare Capital LLC grew its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 16.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,338 shares of the Wireless communications provider’s stock after buying an additional 2,800 shares during the quarter. Townsquare Capital LLC owned 0.07% of InterDigital worth $3,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Elequin Capital LP purchased a new stake in InterDigital in the 4th quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in shares of InterDigital in the 1st quarter worth $32,000. Headlands Technologies LLC bought a new stake in shares of InterDigital in the 1st quarter worth $35,000. Concord Wealth Partners purchased a new stake in shares of InterDigital in the first quarter valued at about $37,000. Finally, Versant Capital Management Inc lifted its position in shares of InterDigital by 957.9% during the first 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 in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $224.58, for a total value of $224,580.00. Following the transaction, the chief technology officer directly owned 76,580 shares in the company, valued at $17,198,336.40. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Kritzmacher sold 519 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.65, for a total transaction of $117,631.35. Following the transaction, the director directly owned 19,774 shares of the company’s stock, valued at $4,481,777.10. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,062 shares of company stock worth $920,853. 2.30% of the stock is owned by company insiders.

InterDigital Stock Down 0.7%

InterDigital stock opened at $264.21 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market cap of $6.82 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.61 and a beta of 1.37. InterDigital, Inc. has a fifty-two week low of $129.76 and a fifty-two week high of $277.95. The firm’s 50-day simple moving average is $231.18 and its 200 day simple moving average is $214.85.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $3.75. The firm had revenue of $300.60 million for 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 company’s revenue was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.57 EPS. Research analysts predict that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, July 9th. InterDigital’s payout ratio is presently 17.11%.

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.