ExodusPoint Capital Management LP Invests $8.57 Million in InterDigital, Inc. (NASDAQ:IDCC)

ExodusPoint Capital Management LP purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,229 shares of the Wireless communications provider’s stock, valued at approximately $8,568,000. ExodusPoint Capital Management LP owned 0.17% of InterDigital as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC grew its holdings in shares of InterDigital by 504.5% during the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after acquiring an additional 111 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new stake in InterDigital during the fourth quarter valued at $39,000. Mendota Financial Group LLC grew its stake in InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after purchasing an additional 290 shares in the last quarter. R Squared Ltd acquired a new position in InterDigital in the 4th quarter worth about $70,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of InterDigital by 468.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 511 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Trading Down 3.4 %

Shares of NASDAQ IDCC opened at $191.31 on Friday. The business has a 50 day simple moving average of $207.18 and a 200 day simple moving average of $184.82. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $231.97. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.57 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.25%. This is an increase from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s payout ratio is currently 19.93%.

Insider Transactions at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $204.13, for a total transaction of $142,891.00. Following the transaction, the chief technology officer now directly owns 52,997 shares of the company’s stock, valued at $10,818,277.61. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the completion of the sale, the chief financial officer now directly owns 102,555 shares of the company’s stock, valued at $22,070,861.55. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,833 shares of company stock worth $2,954,830 in the last 90 days. 2.30% of the stock is owned by insiders.

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.