Shares of TiVo Corp (NASDAQ:TIVO) saw unusually-strong trading volume on Wednesday after the company announced a dividend. Approximately 4,994,614 shares changed hands during trading, an increase of 249% from the previous session’s volume of 1,430,983 shares.The stock last traded at $15.00 and had previously closed at $13.55.
The newly announced dividend which will be paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, March 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.80%. TiVo’s payout ratio is presently -184.62%.
A number of research analysts recently issued reports on TIVO shares. Zacks Investment Research downgraded shares of TiVo from a “hold” rating to a “strong sell” rating in a research report on Friday, January 5th. B. Riley downgraded shares of TiVo from a “buy” rating to a “neutral” rating and dropped their target price for the company from $24.00 to $18.00 in a research report on Wednesday, December 13th. BWS Financial initiated coverage on shares of TiVo in a research report on Monday, January 22nd. They set a “buy” rating and a $25.00 target price on the stock. Finally, Piper Jaffray Companies restated a “buy” rating and set a $25.00 price target on shares of TiVo in a research note on Friday, November 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. TiVo has a consensus rating of “Buy” and an average price target of $23.50.
TiVo (NASDAQ:TIVO) last announced its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.30). TiVo had a negative net margin of 5.39% and a positive return on equity of 4.72%. equities analysts anticipate that TiVo Corp will post 1.25 earnings per share for the current year.
In other TiVo news, CEO Enrique Rodriguez purchased 55,974 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was acquired at an average price of $17.86 per share, for a total transaction of $999,695.64. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.57% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC increased its stake in TiVo by 9.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,627,610 shares of the technology company’s stock valued at $52,158,000 after purchasing an additional 232,034 shares in the last quarter. Eagle Boston Investment Management Inc. grew its stake in shares of TiVo by 3.4% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 267,270 shares of the technology company’s stock worth $5,305,000 after acquiring an additional 8,899 shares in the last quarter. AXA grew its stake in shares of TiVo by 7.3% in the 3rd quarter. AXA now owns 437,400 shares of the technology company’s stock worth $8,682,000 after acquiring an additional 29,573 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of TiVo by 117.1% in the 4th quarter. Bessemer Group Inc. now owns 75,100 shares of the technology company’s stock worth $1,172,000 after acquiring an additional 40,500 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP grew its stake in shares of TiVo by 64.0% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 1,134,945 shares of the technology company’s stock worth $17,705,000 after acquiring an additional 442,971 shares in the last quarter. Institutional investors and hedge funds own 90.13% of the company’s stock.
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TiVo Company Profile
TiVo Corporation is engaged in offering media and entertainment products. The Company operates through two segments: Intellectual Property Licensing and Product. The Company’s Product segment includes a suite of component technologies that can be integrated into media service provider internally developed platforms or deployed as an integrated TiVo solution.
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