Rovi Corp. (ROVI) Shares Up 1.9%
Rovi Corp. (NASDAQ:ROVI) shot up 1.9% on Wednesday . The company traded as high as $20.24 and last traded at $20.11, with a volume of 230,173 shares traded. The stock had previously closed at $19.74.
A number of brokerages recently weighed in on ROVI. Zacks Investment Research lowered Rovi Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. B. Riley restated a “buy” rating and set a $29.00 price objective on shares of Rovi Corp. in a research report on Wednesday, August 3rd. Piper Jaffray Cos. restated an “overweight” rating and set a $27.00 price objective (down previously from $29.00) on shares of Rovi Corp. in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $34.00 price objective on shares of Rovi Corp. in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Rovi Corp. has an average rating of “Buy” and a consensus price target of $26.50.
The company’s market cap is $1.65 billion. The company has a 50-day moving average of $17.64 and a 200 day moving average of $18.37.
Rovi Corp. (NASDAQ:ROVI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.08. The business earned $125.20 million during the quarter, compared to analysts’ expectations of $119.31 million. During the same quarter last year, the business posted $0.04 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts anticipate that Rovi Corp. will post $1.57 earnings per share for the current fiscal year.
In other Rovi Corp. news, Director Glenn W. Welling acquired 200,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average price of $16.24 per share, for a total transaction of $3,248,000.00. Following the completion of the transaction, the director now owns 28,529 shares of the company’s stock, valued at approximately $463,310.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Pamela A. Sergeeff sold 1,616 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $17.93, for a total value of $28,974.88. Following the completion of the sale, the executive vice president now owns 82,390 shares in the company, valued at approximately $1,477,252.70. The disclosure for this sale can be found here.
Several large investors have modified their holdings of ROVI. Montag A & Associates Inc. acquired a new stake in shares of Rovi Corp. during the fourth quarter worth about $3,808,000. KBC Group NV increased its stake in shares of Rovi Corp. by 15.7% in the fourth quarter. KBC Group NV now owns 87,615 shares of the company’s stock worth $1,460,000 after buying an additional 11,860 shares during the period. Paradigm Capital Management Inc. NY increased its stake in shares of Rovi Corp. by 3.1% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 231,100 shares of the company’s stock worth $3,850,000 after buying an additional 7,000 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Rovi Corp. by 1.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 382,807 shares of the company’s stock worth $6,378,000 after buying an additional 5,130 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Rovi Corp. by 109.2% in the fourth quarter. Principal Financial Group Inc. now owns 556,103 shares of the company’s stock worth $9,265,000 after buying an additional 290,263 shares during the period.
Rovi Corporation powers entertainment discovery and personalization through product technology and intellectual property using data and analytics to monetize interactions across various entertainment platforms. The Company’s segments include Intellectual Property Licensing and Product. The Intellectual Property Licensing segment consists of interactive program guides (IPG) patent licensing to third party guide developers, such as multi-channel video service providers (cable, satellite and Internet-protocol television), consumer electronics manufacturers, set-top box manufacturers and interactive television software and program guide providers in the online, over-the-top video and mobile phone businesses.
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