RealNetworks Inc. (NASDAQ:RNWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “RealNetworks, Inc. is a leading provider of branded software products and services that enable the creation and real-time delivery and playback of audio, video, text, animation and other media content over the Internet and intranets on both a live and on-demand basis. RealNetworks’ products and services include its RealSystem G2, a streaming media solution that includes RealNetworks’ popular RealAudio and RealVideo technology, an electronic commerce Web site from which RealNetworks distributes, sells and promotes streaming media products, services and programming. “
Separately, B. Riley reaffirmed a “buy” rating and set a $7.50 price objective on shares of RealNetworks in a report on Tuesday, September 13th.
RealNetworks (NASDAQ:RNWK) traded up 2.04% during mid-day trading on Wednesday, reaching $4.50. The company had a trading volume of 6,804 shares. RealNetworks has a 12-month low of $3.04 and a 12-month high of $5.10. The firm has a 50-day moving average price of $4.57 and a 200 day moving average price of $4.37. The firm’s market capitalization is $165.60 million.
RealNetworks (NASDAQ:RNWK) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company earned $29.70 million during the quarter, compared to the consensus estimate of $28.10 million. Analysts expect that RealNetworks will post ($1.01) EPS for the current year.
In other RealNetworks news, insider Massimiliano Pellegrini sold 13,958 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $4.63, for a total value of $64,625.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Parham sold 6,000 shares of the business’s stock in a transaction 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.
A number of hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC increased its stake in RealNetworks by 4.1% in the second quarter. Parametric Portfolio Associates LLC now owns 152,509 shares of the company’s stock valued at $657,000 after buying an additional 6,050 shares in the last quarter. Rhumbline Advisers increased its stake in RealNetworks by 8.2% in the second quarter. Rhumbline Advisers now owns 42,422 shares of the company’s stock valued at $183,000 after buying an additional 3,208 shares in the last quarter. AXA increased its stake in RealNetworks by 27.9% in the second quarter. AXA now owns 139,268 shares of the company’s stock valued at $600,000 after buying an additional 30,416 shares in the last quarter. BlackRock Fund Advisors increased its stake in RealNetworks by 5.0% in the second quarter. BlackRock Fund Advisors now owns 618,566 shares of the company’s stock valued at $2,666,000 after buying an additional 29,541 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its stake in RealNetworks by 9.3% in the second quarter. BlackRock Investment Management LLC now owns 94,154 shares of the company’s stock valued at $406,000 after buying an additional 7,984 shares in the last quarter. 50.88% of the stock is owned by institutional investors and hedge funds.
RealNetworks Company Profile
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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