Rovi Corp. (ROVI) Trading Up 5.8%
Rovi Corp. (NASDAQ:ROVI) was up 5.8% on Monday . The stock traded as high as $21.45 and last traded at $20.80, with a volume of 1,348,863 shares trading hands. The stock had previously closed at $19.66.
Several equities research analysts recently weighed in on ROVI shares. B. Riley reiterated a “buy” rating and issued a $29.00 target price on shares of Rovi Corp. in a research note on Wednesday, June 15th. JPMorgan Chase & Co. restated a “buy” rating and set a $34.00 price target on shares of Rovi Corp. in a research note on Friday, July 29th. Finally, Zacks Investment Research upgraded shares of Rovi Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.83.
The stock’s 50-day moving average price is $18.74 and its 200-day moving average price is $18.47. The stock’s market capitalization is $1.71 billion.
Rovi Corp. (NASDAQ:ROVI) last posted its earnings results on Thursday, July 28th. The company reported $0.39 earnings per share for the quarter, topping the 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 in the previous year, the business earned $0.04 EPS. Rovi Corp.’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Rovi Corp. will post $1.57 EPS for the current fiscal year.
In related news, insider Dustin Finer sold 2,391 shares of the business’s stock in a transaction that occurred on 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 owns 33,266 shares of the company’s stock, valued at $522,276.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Pamela A. Sergeeff sold 1,616 shares of the business’s stock in a transaction that occurred on 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 approximately $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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