Zacks Investment Research Downgrades RealNetworks Inc. (RNWK) to Hold
RealNetworks Inc. (NASDAQ:RNWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “RealNetworks, Inc. is a leading provider of branded software products and services that enable the creation and real-time delivery and playback of audio, video, text, animation and other media content over the Internet and intranets on both a live and on-demand basis. RealNetworks’ products and services include its RealSystem G2, a streaming media solution that includes RealNetworks’ popular RealAudio and RealVideo technology, an electronic commerce Web site from which RealNetworks distributes, sells and promotes streaming media products, services and programming. “
Separately, B. Riley restated a “buy” rating and issued a $7.50 price target on shares of RealNetworks in a research report on Wednesday, July 27th.
RealNetworks (NASDAQ:RNWK) opened at 4.61 on Wednesday. RealNetworks has a 12 month low of $3.04 and a 12 month high of $5.10. The firm’s 50-day moving average is $4.55 and its 200 day moving average is $4.37. The firm’s market capitalization is $169.64 million.
RealNetworks (NASDAQ:RNWK) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.16. RealNetworks had a negative net margin of 44.74% and a negative return on equity of 43.44%. The company had revenue of $29.70 million for the quarter, compared to the consensus estimate of $28.10 million. Equities analysts predict that RealNetworks will post ($1.01) earnings per share for the current year.
In related news, SVP Michael Parham sold 6,000 shares of RealNetworks stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $4.70, for a total value of $28,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Massimiliano Pellegrini sold 13,958 shares of RealNetworks stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $4.63, for a total transaction of $64,625.54. The disclosure for this sale can be found here. 39.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of RNWK. Vanguard Group Inc. increased its stake in shares of RealNetworks by 4.9% in the second quarter. Vanguard Group Inc. now owns 825,490 shares of the company’s stock valued at $3,558,000 after buying an additional 38,369 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of RealNetworks by 5.0% in the second quarter. BlackRock Fund Advisors now owns 618,566 shares of the company’s stock valued at $2,666,000 after buying an additional 29,541 shares in the last quarter. State Street Corp increased its stake in shares of RealNetworks by 1.3% in the first quarter. State Street Corp now owns 367,099 shares of the company’s stock valued at $1,490,000 after buying an additional 4,869 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of RealNetworks by 5.9% in the first quarter. Geode Capital Management LLC now owns 166,572 shares of the company’s stock valued at $676,000 after buying an additional 9,252 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of RealNetworks by 4.1% in the second quarter. Parametric Portfolio Associates LLC now owns 152,509 shares of the company’s stock valued at $657,000 after buying an additional 6,050 shares in the last quarter. Hedge funds and other institutional investors own 50.88% of the company’s stock.
RealNetworks, Inc (RealNetworks) is engaged in creating applications and services, which help in connecting with digital media. The Company provides the digital media services and products it creates to consumers, mobile carriers and other businesses. It operates through three segments: RealPlayer Group, Mobile Entertainment and Games.
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