Published On: Sat, Sep 10th, 2016

B. Riley Reiterates Buy Rating for Rovi Corp. (TIVO)

Rovi Corp. (NASDAQ:TIVO)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a report released on Thursday. They presently have a $13.25 price objective on the stock. B. Riley’s target price would suggest a potential downside of 39.05% from the company’s previous close.
A number of other equities analysts have also recently weighed in on TIVO. Jefferies Group reissued a “buy” rating on shares of Rovi Corp. in a research report on Tuesday, May 31st. FBR & Co reissued a “market perform” rating and issued a $10.70 price objective on shares of Rovi Corp. in a research report on Wednesday, June 1st. MKM Partners lowered shares of Rovi Corp. from a “buy” rating to a “neutral” rating and cut their target price for the company from $12.00 to $10.70 in a research note on Wednesday, June 1st. Finally, Zacks Investment Research lowered shares of Rovi Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 2nd. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Rovi Corp. has an average rating of “Hold” and an average target price of $12.74.
Shares of Rovi Corp. (NASDAQ:TIVO) traded down 3.76% during midday trading on Thursday, reaching $21.74. The company’s stock had a trading volume of 2,458,881 shares. The company has a market capitalization of $2.20 billion, a P/E ratio of 96.19 and a beta of 0.84. The stock has a 50 day moving average of $20.24 and a 200-day moving average of $18.61. Rovi Corp. has a 1-year low of $8.01 and a 1-year high of $23.70.

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In other news, Director Thomas S. Rogers sold 319,600 shares of the stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $10.17, for a total value of $3,250,332.00. Following the completion of the transaction, the director now directly owns 2,960,299 shares in the company, valued at $30,106,240.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel M. Moloney sold 33,140 shares of the 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 completion of the transaction, the director now owns 22,083 shares of the company’s stock, valued at $235,404.78. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.
Several hedge funds and institutional investors recently bought and sold shares of TIVO. Nordea Investment Management AB boosted its position in Rovi Corp. by 68.1% in the fourth quarter. Nordea Investment Management AB now owns 238,053 shares of the company’s stock valued at $2,054,000 after buying an additional 96,400 shares during the period. Financial & Investment Management Group Ltd. boosted its position in Rovi Corp. by 5.8% in the fourth quarter. Financial & Investment Management Group Ltd. now owns 229,465 shares of the company’s stock valued at $1,980,000 after buying an additional 12,620 shares during the period. Stephens Investment Management Group LLC boosted its position in Rovi Corp. by 10.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,132,910 shares of the company’s stock valued at $9,777,000 after buying an additional 106,450 shares during the period. I.G. Investment Management LTD. boosted its position in Rovi Corp. by 25.6% in the fourth quarter. I.G. Investment Management LTD. now owns 412,897 shares of the company’s stock valued at $3,563,000 after buying an additional 84,070 shares during the period. Finally, Systematic Financial Management LP boosted its position in Rovi Corp. by 1.8% in the fourth quarter. Systematic Financial Management LP now owns 760,965 shares of the company’s stock valued at $6,567,000 after buying an additional 13,556 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.
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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