TiVo (TIVO) Stock Price Down 1.8% After Analyst Downgrade
TiVo Corp (NASDAQ:TIVO) traded down 1.8% during mid-day trading on Tuesday after B. Riley lowered their price target on the stock from $31.00 to $24.00. B. Riley currently has a buy rating on the stock. TiVo traded as low as $16.50 and last traded at $16.20. 461,410 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 709,760 shares. The stock had previously closed at $16.50.
TIVO has been the subject of several other research reports. Jefferies Group reaffirmed a “buy” rating and set a $18.00 price objective on shares of TiVo in a research report on Thursday, September 21st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 price objective on shares of TiVo in a research report on Friday, November 3rd. ValuEngine raised shares of TiVo from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Cowen reaffirmed a “buy” rating and set a $30.00 price objective on shares of TiVo in a research report on Friday, September 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. TiVo presently has a consensus rating of “Buy” and a consensus target price of $24.25.
In other news, insider Dustin Finer sold 11,881 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $20.00, for a total value of $237,620.00. Following the completion of the transaction, the insider now owns 41,524 shares of the company’s stock, valued at $830,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Pamela A. Sergeeff sold 3,147 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $20.00, for a total transaction of $62,940.00. Following the completion of the transaction, the executive vice president now directly owns 89,976 shares of the company’s stock, valued at approximately $1,799,520. The disclosure for this sale can be found here. 3.57% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC increased its stake in shares of TiVo by 3.6% in the first quarter. Teachers Advisors LLC now owns 206,123 shares of the technology company’s stock valued at $3,865,000 after buying an additional 7,091 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of TiVo by 23.2% in the first quarter. Public Employees Retirement System of Ohio now owns 10,351 shares of the technology company’s stock valued at $194,000 after buying an additional 1,946 shares during the period. Bank of Montreal Can increased its stake in shares of TiVo by 90.4% in the second quarter. Bank of Montreal Can now owns 12,010 shares of the technology company’s stock valued at $224,000 after buying an additional 5,703 shares during the period. Creative Planning increased its stake in shares of TiVo by 83.8% in the second quarter. Creative Planning now owns 7,137 shares of the technology company’s stock valued at $133,000 after buying an additional 3,253 shares during the period. Finally, Aperio Group LLC increased its stake in shares of TiVo by 2.1% in the second quarter. Aperio Group LLC now owns 25,054 shares of the technology company’s stock valued at $467,000 after buying an additional 521 shares during the period. 90.30% of the stock is owned by hedge funds and other institutional investors.
The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.33 and a current ratio of 2.38. The firm has a market cap of $1,980.00, a P/E ratio of 23.92, a PEG ratio of 1.42 and a beta of 0.11.
TiVo (NASDAQ:TIVO) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.07). TiVo had a negative net margin of 5.39% and a positive return on equity of 4.72%. The firm had revenue of $197.90 million during the quarter, compared to analyst estimates of $190.83 million. During the same period in the prior year, the company earned $0.59 EPS. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. equities analysts anticipate that TiVo Corp will post 1.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Tuesday, December 5th. TiVo’s dividend payout ratio is currently -184.62%.
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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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