Morgan Stanley Has $19.23 Million Stake in TiVo Corporation (TIVO)
Morgan Stanley lowered its position in shares of TiVo Corporation (NASDAQ:TIVO) by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,025,759 shares of the technology company’s stock after selling 112,326 shares during the period. Morgan Stanley owned about 0.87% of TiVo Corporation worth $19,233,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tyers Asset Management LLC increased its position in TiVo Corporation by 2.6% in the first quarter. Tyers Asset Management LLC now owns 5,432 shares of the technology company’s stock worth $102,000 after buying an additional 140 shares during the period. Bank of Montreal Can increased its stake in TiVo Corporation by 156.6% in the first quarter. Bank of Montreal Can now owns 6,307 shares of the technology company’s stock valued at $118,000 after buying an additional 3,849 shares during the last quarter. Flinton Capital Management LLC increased its stake in TiVo Corporation by 2.6% in the first quarter. Flinton Capital Management LLC now owns 6,596 shares of the technology company’s stock valued at $124,000 after buying an additional 170 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in TiVo Corporation by 25.4% in the first quarter. PNC Financial Services Group Inc. now owns 7,074 shares of the technology company’s stock valued at $132,000 after buying an additional 1,433 shares during the last quarter. Finally, James Investment Research Inc. bought a new stake in TiVo Corporation during the first quarter valued at $143,000. Institutional investors own 89.59% of the company’s stock.
TiVo Corporation (NASDAQ:TIVO) traded down 2.91% during trading on Tuesday, reaching $18.35. The company had a trading volume of 701,121 shares. TiVo Corporation has a 12-month low of $15.15 and a 12-month high of $23.40. The stock has a 50 day moving average of $18.84 and a 200-day moving average of $18.58. The stock has a market capitalization of $2.20 billion, a P/E ratio of 119.93 and a beta of 0.16.
TiVo Corporation (NASDAQ:TIVO) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.20. TiVo Corporation had a net margin of 2.47% and a return on equity of 10.59%. The business had revenue of $208.60 million for the quarter, compared to analyst estimates of $192.72 million. During the same period in the previous year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 66.6% on a year-over-year basis. On average, analysts forecast that TiVo Corporation will post $0.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.72 annualized dividend and a dividend yield of 3.92%. TiVo Corporation’s payout ratio is currently 240.00%.
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TIVO has been the topic of several recent research reports. Cowen and Company restated an “outperform” rating and issued a $30.00 price target on shares of TiVo Corporation in a research note on Thursday, May 4th. Zacks Investment Research upgraded TiVo Corporation from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, May 16th. Piper Jaffray Companies restated a “buy” rating and issued a $25.00 price target on shares of TiVo Corporation in a research note on Tuesday, May 30th. Jefferies Group LLC restated a “buy” rating and issued a $18.00 price target on shares of TiVo Corporation in a research note on Friday, July 7th. Finally, ValuEngine downgraded TiVo Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. TiVo Corporation currently has a consensus rating of “Buy” and an average target price of $26.17.
About TiVo Corporation
TiVo Corporation is engaged in offering media and entertainment products. The Company operates through two segments: Intellectual Property Licensing and Product. The Company’s Product segment includes a suite of component technologies that can be integrated into media service provider internally developed platforms or deployed as an integrated TiVo solution.
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