Bank of Montreal Can purchased a new position in Rovi Corp. (NASDAQ:TIVO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 353,704 shares of the company’s stock, valued at approximately $3,502,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of TIVO. Sphinx Trading LP purchased a new position in shares of Rovi Corp. during the second quarter worth about $119,000. Boothbay Fund Management LLC raised its position in shares of Rovi Corp. by 55.4% in the first quarter. Boothbay Fund Management LLC now owns 21,303 shares of the company’s stock worth $203,000 after buying an additional 7,592 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in shares of Rovi Corp. during the first quarter worth about $314,000. HRS Investment Holdings LLC purchased a new position in shares of Rovi Corp. during the first quarter worth about $713,000. Finally, Arrowgrass Capital Partners US LP purchased a new position in shares of Rovi Corp. during the first quarter worth about $640,000. Institutional investors and hedge funds own 81.51% of the company’s stock.
Shares of Rovi Corp. (NASDAQ:TIVO) traded up 1.45% during trading on Friday, hitting $19.62. 947,824 shares of the company traded hands. The firm has a 50 day moving average price of $20.73 and a 200-day moving average price of $18.41. Rovi Corp. has a one year low of $8.01 and a one year high of $23.70. The stock’s market cap is $1.61 billion.
A number of brokerages have recently issued reports on TIVO. B. Riley reiterated a “buy” rating on shares of Rovi Corp. in a research note on Tuesday, September 27th. Albert Fried & Company reissued a “hold” rating on shares of Rovi Corp. in a report on Sunday, September 11th. Finally, Jefferies Group reissued a “buy” rating and set a $18.00 price objective on shares of Rovi Corp. in a report on Monday, August 15th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Rovi Corp. has a consensus rating of “Hold” and an average price target of $12.80.
In other Rovi Corp. news, CEO Naveen K. Chopra sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $11.29, for a total transaction of $1,129,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Tom Carson sold 166,985 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $21.38, for a total transaction of $3,570,139.30. Following the transaction, the chief executive officer now directly owns 112,178 shares in the company, valued at approximately $2,398,365.64. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.
Rovi Corp. Company Profile
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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