Rovi Corp. (ROVI) Sees Unusually-High Trading Volume
Rovi Corp. (NASDAQ:ROVI) saw an uptick in trading volume on Wednesday . 956,736 shares changed hands during 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.
A number of brokerages have commented on ROVI. JPMorgan Chase & Co. raised shares of Rovi Corp. from a “neutral” rating to an “outperform” rating and set a $23.00 target price on the stock in a research note on Thursday. B. Riley reaffirmed a “buy” rating and set a $31.00 target price on shares of Rovi Corp. in a research note on Tuesday. Zacks Investment Research downgraded shares of Rovi Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $27.00 target price (down from $29.00) on shares of Rovi Corp. in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Rovi Corp. currently has an average rating of “Buy” and a consensus price target of $26.00.
The firm’s 50 day moving average price is $19.04 and its 200 day moving average price is $18.51. The company’s market capitalization is $1.74 billion.
Rovi Corp. (NASDAQ:ROVI) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.08. The business earned $125.20 million during the quarter, compared to the consensus estimate of $119.31 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts anticipate that Rovi Corp. will post $1.57 EPS for the current year.
In other news, EVP Pamela A. Sergeeff sold 1,616 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $17.93, for a total transaction of $28,974.88. Following the sale, the executive vice president now directly owns 82,390 shares in the company, valued at $1,477,252.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $37,538.70. Following the sale, the insider now owns 33,266 shares in the company, valued at $522,276.20. 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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