Menta Capital LLC Has Lowered Its Interdigital INC (IDCC) Holding by $3.12 Million; Market Valuation Declined

July 18, 2017 - By Peter Erickson

Investors sentiment decreased to 0.95 in Q4 2016. Its down 0.35, from 1.3 in 2016Q3. It worsened, as 30 investors sold IDCC shares while 88 reduced holdings. 41 funds opened positions while 71 raised stakes. 22.76 million shares or 1.73% less from 23.16 million shares in 2016Q3 were reported. First Tru Advisors LP owns 46,826 shares. Teacher Retirement Systems Of Texas holds 2,752 shares or 0% of its portfolio. California State Teachers Retirement System invested in 71,472 shares or 0.01% of the stock. Voloridge Inv Mgmt Ltd Limited Liability Company holds 0.03% or 14,030 shares. Voya Management Ltd Company reported 58,558 shares or 0.01% of all its holdings. Commercial Bank Of America Corp De has 0% invested in InterDigital, Inc. (NASDAQ:IDCC). Blackrock reported 15,284 shares. Permit Lc holds 5.7% of its portfolio in InterDigital, Inc. (NASDAQ:IDCC) for 91,030 shares. 15,704 were reported by Airain Limited. Sg Americas Securities Llc reported 0% of its portfolio in InterDigital, Inc. (NASDAQ:IDCC). Valley Advisers reported 0% in InterDigital, Inc. (NASDAQ:IDCC). Blackrock Group Limited has 0% invested in InterDigital, Inc. (NASDAQ:IDCC) for 30,775 shares. Richard Bernstein Advsr Ltd Co reported 0.38% of its portfolio in InterDigital, Inc. (NASDAQ:IDCC). Hays Advisory Ltd Liability Corporation owns 77,122 shares. 1,038 were accumulated by Zurcher Kantonalbank (Zurich Cantonalbank).

Menta Capital Llc decreased its stake in Interdigital Inc (IDCC) by 46.88% based on its latest 2016Q4 regulatory filing with the SEC. Menta Capital Llc sold 34,262 shares as the company’s stock declined 17.57% while stock markets rallied. The hedge fund held 38,819 shares of the miscellaneous company at the end of 2016Q4, valued at $3.55M, down from 73,081 at the end of the previous reported quarter. Menta Capital Llc who had been investing in Interdigital Inc for a number of months, seems to be less bullish one the $2.63B market cap company. It closed at $75.85 lastly. It is down 50.23% since July 18, 2016 and is uptrending. It has outperformed by 33.53% the S&P500.

Menta Capital Llc, which manages about $2.11 billion and $1.20B US Long portfolio, upped its stake in Davita Inc (NYSE:DVA) by 50,575 shares to 54,361 shares, valued at $3.49M in 2016Q4, according to the filing. It also increased its holding in Pepsico Inc (NYSE:PEP) by 36,447 shares in the quarter, for a total of 40,588 shares, and has risen its stake in Big 5 Sporting Goods Corp (NASDAQ:BGFV).

Investors wait InterDigital, Inc. (NASDAQ:IDCC) to report on August, 1. its quarterly earnings Wall Street analysts expect $0.63 EPS, up $0.15 or 31.25 % from last year’s $0.48 same quarter earnings. This translates into $21.84M profit for IDCC giving the stock a 30.10 P/E. This is assuming the current $0.63 EPS is accurate. InterDigital, Inc.’s Wall Street analysts see -32.26 % negative EPS growth, taking into account the $0.93 EPS reproted in the previous quarter,

More notable recent InterDigital, Inc. (NASDAQ:IDCC) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: Winnebago Industries, New York Times and InterDigital” on July 06, 2017, also Gurufocus.com with their article: “Smithbridge Asset Management Inc Buys InterDigital Inc, McKesson Corp …” published on July 17, 2017, Nasdaq.com published: “InterDigital Announces Date for Second Quarter 2017 Financial Results” on July 11, 2017. More interesting news about InterDigital, Inc. (NASDAQ:IDCC) were released by: Globenewswire.com and their article: “InterDigital Announces Conversion Rate Adjustment to 1.50% Senior Convertible …” published on June 21, 2017 as well as Globenewswire.com‘s news article titled: “InterDigital CEO: Senator Coons’ Stronger Act “Works to Strengthen American …” with publication date: June 21, 2017.

InterDigital, Inc. (NASDAQ:IDCC) Ratings Coverage

Among 4 analysts covering InterDigital (NASDAQ:IDCC), 1 have Buy rating, 0 Sell and 3 Hold. Therefore 25% are positive. InterDigital has $88 highest and $55 lowest target. $76.50’s average target is 0.86% above currents $75.85 stock price. InterDigital had 11 analyst reports since August 11, 2015 according to SRatingsIntel. The company was downgraded on Wednesday, October 5 by Dougherty & Company. The stock of InterDigital, Inc. (NASDAQ:IDCC) earned “Buy” rating by Sidoti on Tuesday, September 29. The stock of InterDigital, Inc. (NASDAQ:IDCC) earned “Equal Weight” rating by Barclays Capital on Friday, February 24. Barclays Capital maintained it with “Equal Weight” rating and $60 target in Wednesday, November 11 report. B. Riley & Co downgraded the shares of IDCC in report on Monday, September 26 to “Neutral” rating. The company was maintained on Friday, September 9 by Barclays Capital. The firm earned “Buy” rating on Tuesday, August 11 by Zacks. B. Riley & Co initiated the stock with “Buy” rating in Tuesday, February 23 report. The stock has “Neutral” rating by Sidoti on Wednesday, December 7. The company was maintained on Thursday, June 8 by B. Riley & Co.

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