Rovi Corp. (TIVO) Short Interest Update
Rovi Corp. (NASDAQ:TIVO) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 5,180,284 shares, a decrease of 31.1% from the August 31st total of 7,514,250 shares. Based on an average trading volume of 2,289,932 shares, the short-interest ratio is presently 2.3 days.
Rovi Corp. (NASDAQ:TIVO) opened at 19.48 on Friday. Rovi Corp. has a 1-year low of $8.01 and a 1-year high of $23.70. The firm has a 50-day moving average price of $21.03 and a 200 day moving average price of $18.49.
TIVO has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $13.25 price target on shares of Rovi Corp. in a research report on Thursday, September 8th. Jefferies Group restated a “buy” rating and set a $18.00 target price on shares of Rovi Corp. in a report on Monday, August 15th. Finally, Albert Fried & Company restated a “hold” rating on shares of Rovi Corp. in a report on Sunday, September 11th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.80.
In other Rovi Corp. news, Director Daniel M. Moloney sold 33,140 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $10.66, for a total value of $353,272.40. Following the sale, the director now directly owns 22,083 shares in the company, valued at $235,404.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew Zinn sold 55,000 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $10.95, for a total value of $602,250.00. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in TIVO. Wellington Management Group LLP boosted its position in shares of Rovi Corp. by 2.7% in the first quarter. Wellington Management Group LLP now owns 6,272,335 shares of the company’s stock valued at $59,650,000 after buying an additional 162,656 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Rovi Corp. during the first quarter worth approximately $190,000. Nomura Holdings Inc. boosted its position in Rovi Corp. by 2,340.9% in the second quarter. Nomura Holdings Inc. now owns 496,317 shares of the company’s stock worth $4,905,000 after buying an additional 475,984 shares during the period. Cowen Group Inc. acquired a new position in Rovi Corp. during the second quarter worth approximately $12,573,000. Finally, Quadrature Capital Ltd acquired a new position in Rovi Corp. during the first quarter worth approximately $623,000. 98.82% of the stock is owned by hedge funds and other institutional investors.
Rovi Corp. Company Profile
TiVo Inc (TiVo) is a provider of video technology software services and cloud-based software-as-a-service solutions. The Company’s software and cloud-based services provide an all-in-one approach for navigating content chaos by combining live, recorded, Video on demand (VOD) and over-the-top content into an intuitive user interface with search, discovery, viewing and recording, creating a unified viewing experience.
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