RealNetworks Inc. (RNWK) Lowered to Hold at Zacks Investment Research
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 reissued a buy rating and set a $7.50 target price on shares of RealNetworks in a research note on Wednesday, July 27th.
Shares of RealNetworks (NASDAQ:RNWK) traded up 0.87% during mid-day trading on Wednesday, hitting $4.62. The stock had a trading volume of 6,294 shares. The stock’s market cap is $170.01 million. RealNetworks has a 52 week low of $3.04 and a 52 week high of $5.10. The stock has a 50-day moving average price of $4.56 and a 200 day moving average price of $4.37.
RealNetworks (NASDAQ:RNWK) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.16. The company earned $29.70 million during the quarter, compared to analyst estimates of $28.10 million. RealNetworks had a negative net margin of 44.74% and a negative return on equity of 43.44%. On average, equities analysts forecast that RealNetworks will post ($1.01) EPS for the current fiscal year.
In related news, SVP Michael Parham sold 6,000 shares of RealNetworks stock in a transaction on 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 is available at the SEC website. Also, insider Massimiliano Pellegrini sold 31,784 shares of RealNetworks stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $4.65, for a total transaction of $147,795.60. Following the completion of the transaction, the insider now owns 39,543 shares in the company, valued at approximately $183,874.95. The disclosure for this sale can be found here. 39.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in shares of RealNetworks by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 100,333 shares of the company’s stock valued at $433,000 after buying an additional 1,134 shares during the period. Parametric Portfolio Associates LLC increased its position 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 during the period. Rhumbline Advisers increased its position in shares of RealNetworks by 8.2% in the second quarter. Rhumbline Advisers now owns 42,422 shares of the company’s stock valued at $183,000 after buying an additional 3,208 shares during the period. AXA increased its position in shares of RealNetworks by 27.9% in the second quarter. AXA now owns 139,268 shares of the company’s stock valued at $600,000 after buying an additional 30,416 shares during the period. Finally, BlackRock Fund Advisors increased its position 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 during the period. Hedge funds and other institutional investors own 50.88% of the company’s stock.
RealNetworks Company Profile
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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