Rovi Corp. (TIVO) Receives Average Recommendation of “Hold” from Analysts
Rovi Corp. (NASDAQ:TIVO) has received a consensus recommendation of “Hold” from the fifteen brokerages that are covering the company. Ten analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $13.18.
A number of brokerages have recently issued reports on TIVO. Jefferies Group reaffirmed a “buy” rating on shares of Rovi Corp. in a report on Monday, July 18th. B. Riley reissued a “buy” rating and issued a $13.25 price objective on shares of Rovi Corp. in a report on Tuesday, September 13th. Zacks Investment Research raised shares of Rovi Corp. from a “sell” rating to a “hold” rating in a report on Monday, November 7th. Finally, Albert Fried & Company reissued a “hold” rating on shares of Rovi Corp. in a report on Sunday, September 11th.
Rovi Corp. (NASDAQ:TIVO) opened at 21.45 on Wednesday. The firm has a 50-day moving average of $20.01 and a 200-day moving average of $18.69. The stock has a market cap of $2.51 billion, a PE ratio of 36.67 and a beta of 0.61. Rovi Corp. has a 1-year low of $9.50 and a 1-year high of $23.70.
In other news, Director Daniel M. Moloney sold 33,140 shares of Rovi Corp. stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $10.66, for a total transaction of $353,272.40. Following the sale, the director now owns 22,083 shares in the company, valued at $235,404.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Tom Carson sold 166,985 shares of Rovi Corp. stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $21.38, for a total transaction of $3,570,139.30. Following the sale, the chief executive officer now owns 112,178 shares in the company, valued at approximately $2,398,365.64. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Quantitative Systematic Strategies LLC boosted its stake in Rovi Corp. by 4.8% in the second quarter. Quantitative Systematic Strategies LLC now owns 16,501 shares of the company’s stock valued at $163,000 after buying an additional 758 shares during the last quarter. Kassirer Asset Management Corp bought a new stake in Rovi Corp. during the second quarter valued at about $495,000. Bank of Montreal Can bought a new stake in Rovi Corp. during the second quarter valued at about $3,502,000. Sphinx Trading LP bought a new stake in Rovi Corp. during the second quarter valued at about $119,000. Finally, Boothbay Fund Management LLC boosted its stake in Rovi Corp. by 55.4% in the first quarter. Boothbay Fund Management LLC now owns 21,303 shares of the company’s stock valued at $203,000 after buying an additional 7,592 shares during the last quarter. Hedge funds and other institutional investors own 81.51% of the company’s stock.
Rovi Corp. Company Profile
TiVo Corporation, formerly Titan Technologies Corporation, is a holding company. The Company’s subsidiaries include Rovi Corporation and TiVo Inc The Company, through TiVo Inc, is engaged in providing video technology software services and cloud-based software-as-a-service solutions. TiVo Inc’s software and cloud-based services provide an approach for navigating content chaos by combining live, recorded, Video on Demand (VOD) content into an intuitive user interface with universal search, discovery, viewing and recording, and creating a unified viewing experience.
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