Kestrel Investment Management Corp Has $3.23 Million Stock Position in Adeia Inc. (NASDAQ:ADEA)

Kestrel Investment Management Corp lowered its holdings in Adeia Inc. (NASDAQ:ADEA) by 18.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 260,313 shares of the company’s stock after selling 58,300 shares during the quarter. Adeia accounts for about 2.2% of Kestrel Investment Management Corp’s investment portfolio, making the stock its 23rd largest position. Kestrel Investment Management Corp owned about 0.24% of Adeia worth $3,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Adeia by 4.3% in the 2nd quarter. BlackRock Inc. now owns 17,395,494 shares of the company’s stock valued at $191,524,000 after buying an additional 717,508 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Adeia by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 13,941,966 shares of the company’s stock worth $148,900,000 after purchasing an additional 233,675 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of Adeia by 1.0% during the 3rd quarter. Rubric Capital Management LP now owns 4,640,009 shares of the company’s stock worth $49,555,000 after purchasing an additional 47,448 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Adeia during the 1st quarter worth approximately $32,577,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Adeia by 35.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock worth $42,820,000 after purchasing an additional 903,568 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Price Performance

ADEA traded up $0.21 during trading on Friday, hitting $9.94. The company’s stock had a trading volume of 483,114 shares, compared to its average volume of 526,824. The firm’s 50 day moving average price is $11.10 and its two-hundred day moving average price is $10.66. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 16.85 and a beta of 1.43. Adeia Inc. has a 12 month low of $7.12 and a 12 month high of $13.39. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.46.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 20th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $86.87 million during the quarter, compared to analysts’ expectations of $89.23 million. Adeia had a return on equity of 42.74% and a net margin of 17.33%. Sell-side analysts forecast that Adeia Inc. will post 1.18 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.01%. Adeia’s dividend payout ratio (DPR) is presently 33.90%.

Analyst Ratings Changes

ADEA has been the topic of several recent research reports. Rosenblatt Securities initiated coverage on Adeia in a report on Friday, February 23rd. They set a “buy” rating and a $15.00 price objective on the stock. BWS Financial restated a “buy” rating and set a $16.00 target price on shares of Adeia in a research report on Friday.

Adeia 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.