Mesirow Financial Investment Management Inc. Invests $406,000 in InterDigital, Inc. (NASDAQ:IDCC)

Mesirow Financial Investment Management Inc. acquired a new position in InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, Holdings Channel.com reports. The firm acquired 2,094 shares of the Wireless communications provider’s stock, valued at approximately $406,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Edgestream Partners L.P. increased its stake in shares of InterDigital by 371.3% in the fourth quarter. Edgestream Partners L.P. now owns 17,498 shares of the Wireless communications provider’s stock worth $3,390,000 after acquiring an additional 13,785 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of InterDigital in the fourth quarter worth $7,062,000. Inceptionr LLC acquired a new stake in shares of InterDigital in the fourth quarter worth $387,000. Raymond James Financial Inc. acquired a new stake in shares of InterDigital in the fourth quarter worth $9,040,000. Finally, Atria Investments Inc acquired a new stake in shares of InterDigital in the fourth quarter worth $511,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Stock Up 2.7 %

NASDAQ:IDCC opened at $215.28 on Friday. The firm has a market capitalization of $5.53 billion, a P/E ratio of 17.88, a PEG ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $231.96. The company’s fifty day moving average price is $195.60 and its 200-day moving average price is $174.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a yield of 1.11%. InterDigital’s dividend payout ratio is 19.93%.

Insider Buying and Selling

In related news, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total transaction of $75,078.50. Following the sale, the insider now directly owns 30,537 shares of the company’s stock, valued at approximately $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Brezski sold 9,602 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the sale, the chief financial officer now directly owns 102,555 shares in the company, valued at $22,070,861.55. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,134 shares of company stock valued at $4,678,770. Corporate insiders own 2.30% of the company’s stock.

InterDigital Company 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.