Pacer Advisors Inc. Sells 1,037,867 Shares of Adeia Inc. (NASDAQ:ADEA)

Pacer Advisors Inc. trimmed its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 25.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,005,280 shares of the company’s stock after selling 1,037,867 shares during the period. Pacer Advisors Inc. owned about 2.75% of Adeia worth $42,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV raised its position in Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after acquiring an additional 2,977 shares during the period. Algert Global LLC purchased a new stake in shares of Adeia during the 2nd quarter worth approximately $122,000. Linden Thomas Advisory Services LLC bought a new stake in shares of Adeia in the 4th quarter worth approximately $142,000. Hohimer Wealth Management LLC bought a new stake in shares of Adeia in the 3rd quarter worth approximately $190,000. Finally, Seizert Capital Partners LLC purchased a new position in Adeia in the third quarter valued at approximately $197,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ADEA shares. BWS Financial restated a “buy” rating and issued a $16.00 target price on shares of Adeia in a research note on Monday, January 13th. Rosenblatt Securities boosted their price objective on Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Adeia Stock Down 1.8 %

ADEA opened at $13.04 on Tuesday. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $14.75. The company has a market cap of $1.42 billion, a PE ratio of 36.22 and a beta of 1.39. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a 50 day moving average of $13.25 and a 200 day moving average of $12.35.

About Adeia

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.