Nationwide Fund Advisors raised its stake in shares of TiVo Corp (NASDAQ:ROVI) by 17.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 363,759 shares of the company’s stock after buying an additional 54,290 shares during the period. Nationwide Fund Advisors owned approximately 0.44% of TiVo Corp worth $5,689,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Jericho Capital Asset Management L.P. boosted its position in TiVo Corp by 355.7% in the first quarter. Jericho Capital Asset Management L.P. now owns 1,330,667 shares of the company’s stock valued at $27,292,000 after buying an additional 1,038,630 shares during the period. Frontier Capital Management Co. LLC boosted its position in TiVo Corp by 17.5% in the second quarter. Frontier Capital Management Co. LLC now owns 5,728,067 shares of the company’s stock valued at $89,587,000 after buying an additional 853,825 shares during the period. HBK Investments L P acquired a new position in TiVo Corp during the first quarter valued at approximately $10,731,000. Old Mutual Global Investors UK Ltd. boosted its position in TiVo Corp by 1,869.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 513,539 shares of the company’s stock valued at $8,031,000 after buying an additional 487,469 shares during the period. Finally, Arrowgrass Capital Partners US LP acquired a new position in TiVo Corp during the first quarter valued at approximately $5,791,000. Institutional investors own 98.99% of the company’s stock.
Shares of TiVo Corp (NASDAQ:ROVI) remained flat at $22.42 during midday trading on Wednesday. The firm’s market capitalization is $1.84 billion. TiVo Corp has a 12-month low of $8.01 and a 12-month high of $23.70. The company’s 50 day moving average price is $20.01 and its 200-day moving average price is $18.58.
TiVo Corp (NASDAQ:ROVI) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.08. The company had revenue of $125.20 million for the quarter, compared to the consensus estimate of $119.31 million. TiVo Corp had a positive return on equity of 8.88% and a negative net margin of 3.78%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. On average, equities research analysts anticipate that TiVo Corp will post $1.59 EPS for the current fiscal year.
ROVI has been the subject of several research analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating and set a $34.00 target price on shares of TiVo Corp in a research note on Friday, July 29th. Zacks Investment Research cut TiVo Corp from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. B. Riley restated a “buy” rating and set a $31.00 price objective on shares of TiVo Corp in a research note on Tuesday, September 6th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $27.00 price objective (down from $29.00) on shares of TiVo Corp in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $26.00.
In other TiVo Corp news, insider Dustin Finer sold 2,391 shares of TiVo Corp stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $15.70, for a total value of $37,538.70. Following the transaction, the insider now directly owns 33,266 shares of the company’s stock, valued at approximately $522,276.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Pamela A. Sergeeff sold 1,616 shares of TiVo Corp stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $17.93, for a total value of $28,974.88. Following the completion of the transaction, the executive vice president now directly owns 82,390 shares in the company, valued at $1,477,252.70. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.
About TiVo Corp
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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