Rovi Corp. (ROVI) Shares Down 1.8%
Rovi Corp. (NASDAQ:ROVI) shares fell 1.8% during mid-day trading on Friday . The stock traded as low as $21.10 and last traded at $21.21, with a volume of 363,175 shares traded. The stock had previously closed at $21.59.
Several research firms have issued reports on ROVI. B. Riley reaffirmed a “buy” rating and set a $29.00 price objective on shares of Rovi Corp. in a report on Wednesday, July 20th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $27.00 price objective (down previously from $29.00) on shares of Rovi Corp. in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.00.
The firm’s 50-day moving average price is $19.17 and its 200-day moving average price is $18.53. The company’s market cap is $1.74 billion.
Rovi Corp. (NASDAQ:ROVI) last announced its 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. During the same period in the prior year, the business posted $0.04 earnings per share. The business had revenue of $125.20 million for the quarter, compared to the consensus estimate of $119.31 million. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts forecast that Rovi Corp. will post $1.57 earnings per share for the current year.
In related news, insider Dustin Finer sold 2,391 shares of Rovi Corp. 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Pamela A. Sergeeff sold 1,616 shares of Rovi Corp. 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 completion of the transaction, the executive vice president now directly owns 82,390 shares in the company, valued at $1,477,252.70. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Rovi Corp. stock. Ameriprise Financial Inc. boosted its position in shares of Rovi Corp. (NASDAQ:ROVI) by 29.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,468,137 shares of the company’s stock after buying an additional 1,717,088 shares during the period. Ameriprise Financial Inc. owned 9.06% of Rovi Corp. worth $124,418,000 as of its most recent SEC filing.
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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