Rovi Corp. (ROVI) Stock Price Down 1.8%
Rovi Corp. (NASDAQ:ROVI)’s share price fell 1.8% on Friday . The stock traded as low as $21.10 and last traded at $21.21, with a volume of 363,175 shares changing hands. The stock had previously closed at $21.59.
Several research firms have weighed in on ROVI. B. Riley reaffirmed a “buy” rating and set a $29.00 target price on shares of Rovi Corp. in a research note on Monday, May 2nd. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $27.00 target price (down previously from $29.00) on shares of Rovi Corp. in a research note on Monday, August 1st. Zacks Investment Research cut Rovi Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.00.
The company’s 50 day moving average is $19.04 and its 200 day moving average is $18.51. The stock’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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. The firm had revenue of $125.20 million for the quarter, compared to analyst estimates of $119.31 million. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. Equities analysts expect that Rovi Corp. will post $1.57 earnings per share for the current year.
In other Rovi Corp. news, insider Dustin Finer sold 2,391 shares of the stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $15.70, for a total value of $37,538.70. Following the transaction, the insider now owns 33,266 shares of the company’s stock, valued at $522,276.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Pamela A. Sergeeff sold 1,616 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $17.93, for a total value 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 approximately $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. increased its stake in shares of Rovi Corp. (NASDAQ:ROVI) by 29.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 approximately 9.06% of Rovi Corp. worth $124,418,000 at the end of the most recent reporting period.
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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