Rovi Corp. (ROVI) Sees Strong Trading Volume
Rovi Corp. (NASDAQ:ROVI) shares saw unusually-high trading volume on Wednesday . Approximately 956,736 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 862,934 shares.The stock last traded at $21.51 and had previously closed at $21.32.
ROVI has been the subject of several research reports. B. Riley restated a “buy” rating and issued a $29.00 target price on shares of Rovi Corp. in a research note on Monday, May 2nd. JPMorgan Chase & Co. restated a “buy” rating on shares of Rovi Corp. in a research note on Tuesday, May 3rd. Zacks Investment Research downgraded Rovi Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. Finally, Piper Jaffray Cos. restated a “buy” rating and issued a $29.00 target price on shares of Rovi Corp. in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Rovi Corp. presently has an average rating of “Buy” and an average target price of $26.83.
The firm’s market cap is $1.75 billion. The firm’s 50-day moving average is $18.89 and its 200 day moving average is $18.49.
Rovi Corp. (NASDAQ:ROVI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.31 by $0.08. During the same period last year, the company posted $0.04 earnings per share. The firm had revenue of $125.20 million for the quarter, compared to the consensus estimate of $119.31 million. The business’s revenue was down 2.0% on a year-over-year basis. Equities analysts expect that Rovi Corp. will post $1.57 earnings per share for the current year.
In other news, insider Dustin Finer sold 2,391 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $15.70, for a total transaction of $37,538.70. Following the completion of the transaction, the insider now directly owns 33,266 shares of the company’s stock, valued at $522,276.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Pamela A. Sergeeff sold 1,616 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $17.93, for a total transaction of $28,974.88. Following the transaction, the executive vice president now directly owns 82,390 shares of the company’s stock, valued at $1,477,252.70. The disclosure for this sale can be found here.
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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