Published On: Sat, Sep 10th, 2016

RealNetworks’ (RNWK) Buy Rating Reaffirmed at B. Riley

RealNetworks Inc. (NASDAQ:RNWK)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley in a research note issued on Thursday. They currently have a $7.50 target price on the stock. B. Riley’s price target suggests a potential upside of 76.06% from the stock’s previous close.
Separately, Zacks Investment Research raised shares of RealNetworks from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Tuesday, August 9th.
Shares of RealNetworks (NASDAQ:RNWK) traded down 5.33% during mid-day trading on Thursday, reaching $4.26. 65,995 shares of the company were exchanged. The firm has a 50-day moving average price of $4.63 and a 200 day moving average price of $4.34. The stock’s market capitalization is $156.76 million. RealNetworks has a 12 month low of $3.04 and a 12 month high of $5.10.

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RealNetworks (NASDAQ:RNWK) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.16. RealNetworks had a negative net margin of 44.74% and a negative return on equity of 43.44%. The business had revenue of $29.70 million for the quarter, compared to analyst estimates of $28.10 million. Equities research analysts anticipate that RealNetworks will post ($1.01) EPS for the current fiscal year.
In other news, insider Massimiliano Pellegrini sold 13,958 shares of RealNetworks stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $4.63, for a total transaction of $64,625.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael Parham sold 6,000 shares of RealNetworks stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $4.70, for a total transaction of $28,200.00. The disclosure for this sale can be found here. 39.50% of the stock is currently owned by company insiders.
Other large investors have modified their holdings of the company. New York State Common Retirement Fund boosted its stake in shares of RealNetworks by 6.9% in the fourth quarter. New York State Common Retirement Fund now owns 566,748 shares of the company’s stock valued at $2,409,000 after buying an additional 36,658 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of RealNetworks by 1.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 396,749 shares of the company’s stock valued at $1,686,000 after buying an additional 7,100 shares in the last quarter. State Street Corp boosted its stake in shares of RealNetworks by 1.3% in the first quarter. State Street Corp now owns 367,099 shares of the company’s stock valued at $1,490,000 after buying an additional 4,869 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of RealNetworks by 5.9% in the first quarter. Geode Capital Management LLC now owns 166,572 shares of the company’s stock valued at $676,000 after buying an additional 9,252 shares in the last quarter. Finally, AXA boosted its stake in shares of RealNetworks by 2.6% in the first quarter. AXA now owns 108,852 shares of the company’s stock valued at $442,000 after buying an additional 2,787 shares in the last quarter. Institutional investors own 50.88% of the company’s stock.
About RealNetworks
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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