Pinebridge Investments L.P. Cuts Stake in TiVo Corp (TIVO)
Pinebridge Investments L.P. decreased its position in shares of TiVo Corp (NASDAQ:TIVO) by 38.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 44,546 shares of the technology company’s stock after selling 27,821 shares during the quarter. Pinebridge Investments L.P.’s holdings in TiVo were worth $884,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of TIVO. Bank of Montreal Can grew its stake in shares of TiVo by 90.4% during the 2nd quarter. Bank of Montreal Can now owns 12,010 shares of the technology company’s stock worth $224,000 after acquiring an additional 5,703 shares during the period. Creative Planning grew its stake in shares of TiVo by 83.8% during the 2nd quarter. Creative Planning now owns 7,137 shares of the technology company’s stock worth $133,000 after acquiring an additional 3,253 shares during the period. Aperio Group LLC grew its stake in shares of TiVo by 2.1% during the 2nd quarter. Aperio Group LLC now owns 25,054 shares of the technology company’s stock worth $467,000 after acquiring an additional 521 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of TiVo by 4.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 28,540 shares of the technology company’s stock worth $532,000 after acquiring an additional 1,290 shares during the period. Finally, Great West Life Assurance Co. Can grew its stake in shares of TiVo by 3.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 175,987 shares of the technology company’s stock worth $3,273,000 after acquiring an additional 6,600 shares during the period. Institutional investors own 90.30% of the company’s stock.
TIVO has been the subject of several research reports. B. Riley reiterated a “buy” rating and set a $31.00 price target on shares of TiVo in a research note on Monday, October 30th. Piper Jaffray Companies reiterated a “buy” rating and set a $25.00 price target on shares of TiVo in a research note on Friday, November 3rd. Cowen reiterated a “buy” rating and set a $30.00 price target on shares of TiVo in a research note on Friday, September 8th. Jefferies Group restated a “buy” rating and issued a $18.00 target price on shares of TiVo in a research note on Thursday, September 21st. Finally, ValuEngine upgraded TiVo from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. TiVo has an average rating of “Buy” and an average target price of $24.25.
TiVo (NASDAQ:TIVO) last issued its earnings results on Thursday, November 2nd. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.07). TiVo had a positive return on equity of 4.72% and a negative net margin of 5.39%. The company had revenue of $197.90 million during the quarter, compared to the consensus estimate of $190.83 million. During the same quarter in the prior year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. equities analysts expect that TiVo Corp will post 1.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.72 annualized dividend and a yield of 4.50%. TiVo’s dividend payout ratio is currently -184.62%.
In other TiVo news, EVP Pamela A. Sergeeff sold 3,147 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $20.00, for a total value of $62,940.00. Following the completion of the transaction, the executive vice president now owns 89,976 shares in the company, valued at approximately $1,799,520. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Enrique Rodriguez bought 55,974 shares of the business’s stock in a transaction on Friday, December 1st. The stock was bought at an average price of $17.86 per share, with a total value of $999,695.64. The disclosure for this purchase can be found here. 3.57% of the stock is owned by company insiders.
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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