Rovi Corp. (ROVI) Sees Unusually-High Trading Volume
Shares of Rovi Corp. (NASDAQ:ROVI) saw unusually-high trading volume on Thursday . Approximately 2,098,685 shares changed hands during mid-day 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.
ROVI has been the subject of a number of recent research reports. B. Riley reissued a “buy” rating and issued a $29.00 price objective on shares of Rovi Corp. in a report on Wednesday, August 3rd. Piper Jaffray Cos. restated a “buy” rating and issued a $29.00 target price on shares of Rovi Corp. in a research report on Thursday, May 12th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $34.00 target price on shares of Rovi Corp. in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $26.00.
The company’s market capitalization is $1.77 billion. The stock has a 50-day moving average price of $19.68 and a 200-day moving average price of $18.61.
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 analysts’ consensus estimates of $0.31 by $0.08. The company had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $119.31 million. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. On average, equities analysts anticipate that Rovi Corp. will post $1.59 earnings per share for the current year.
In related news, EVP Pamela A. Sergeeff sold 1,616 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 82,390 shares in the company, valued at $1,477,252.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dustin Finer sold 2,391 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $15.70, for a total transaction of $37,538.70. Following the sale, the insider now owns 33,266 shares of the company’s stock, valued at approximately $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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