RealNetworks Inc (RNWK) Short Interest Up 0.8% in March

RealNetworks Inc (NASDAQ:RNWK) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,190,756 shares, a growth of 0.8% from the March 15th total of 1,181,397 shares. Based on an average daily volume of 40,431 shares, the days-to-cover ratio is currently 29.5 days.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. B. Riley Financial Inc. acquired a new position in RealNetworks during the third quarter valued at approximately $237,000. Prudential Financial Inc. increased its position in RealNetworks by 9.3% in the third quarter. Prudential Financial Inc. now owns 127,254 shares of the technology company’s stock valued at $567,000 after buying an additional 10,800 shares during the period. Finally, Adirondack Research & Management Inc. increased its position in RealNetworks by 0.3% in the third quarter. Adirondack Research & Management Inc. now owns 299,296 shares of the technology company’s stock valued at $1,335,000 after buying an additional 965 shares during the period. 51.10% of the stock is currently owned by hedge funds and other institutional investors.

Separately, B. Riley restated a “buy” rating and issued a $7.50 target price on shares of RealNetworks in a research report on Friday, February 3rd.

Shares of RealNetworks (NASDAQ:RNWK) traded down 1.54% during trading on Friday, hitting $4.47. 31,590 shares of the stock traded hands. The stock has a 50-day moving average of $4.59 and a 200 day moving average of $4.79. RealNetworks has a 1-year low of $3.97 and a 1-year high of $5.45. The company’s market cap is $165.47 million.

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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.

5 Day Chart for NASDAQ:RNWK

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