Rovi Corp. (ROVI) Sees Large Volume Increase
Rovi Corp. (NASDAQ:ROVI) shares saw unusually-strong trading volume on Thursday . Approximately 2,098,685 shares traded hands during trading, an increase of 85% from the previous session’s volume of 1,134,976 shares.The stock last traded at $20.58 and had previously closed at $20.47.
Several equities research analysts recently weighed in on ROVI shares. B. Riley reaffirmed a “buy” rating and set a $29.00 price target on shares of Rovi Corp. in a report on Wednesday, June 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $34.00 price target on shares of Rovi Corp. in a report on Friday, July 29th. Finally, Zacks Investment Research raised Rovi Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $26.00.
The firm’s market capitalization is $1.69 billion. The stock has a 50-day moving average of $19.56 and a 200-day moving average of $18.59.
Rovi Corp. (NASDAQ:ROVI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.08. The business had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $119.31 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Rovi Corp.’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts expect that Rovi Corp. will post $1.59 EPS for the current fiscal year.
In other Rovi Corp. news, EVP Pamela A. Sergeeff sold 1,616 shares of Rovi Corp. 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 approximately $1,477,252.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dustin Finer sold 2,391 shares of Rovi Corp. stock in a transaction that occurred on Wednesday, July 6th. The stock was 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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