Frontier Capital Management Co. LLC reduced its position in TiVo Corporation (NASDAQ:TIVO) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,741,496 shares of the technology company’s stock after selling 446,706 shares during the quarter. Frontier Capital Management Co. LLC owned about 3.11% of TiVo Corporation worth $74,269,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in TiVo Corporation by 62,480.7% in the first quarter. BlackRock Inc. now owns 14,976,807 shares of the technology company’s stock worth $280,814,000 after purchasing an additional 14,952,875 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in TiVo Corporation by 33.5% in the second quarter. BNP Paribas Arbitrage SA now owns 40,308 shares of the technology company’s stock worth $752,000 after purchasing an additional 10,105 shares during the last quarter. Legal & General Group Plc grew its holdings in TiVo Corporation by 8.7% in the second quarter. Legal & General Group Plc now owns 232,100 shares of the technology company’s stock worth $4,325,000 after purchasing an additional 18,589 shares during the last quarter. TSP Capital Management Group LLC grew its holdings in TiVo Corporation by 3.6% in the second quarter. TSP Capital Management Group LLC now owns 145,800 shares of the technology company’s stock worth $2,719,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN purchased a new position in TiVo Corporation in the second quarter worth $349,000. 89.13% of the stock is currently owned by institutional investors and hedge funds.
TiVo Corporation (NASDAQ TIVO) traded down $0.72 during midday trading on Friday, reaching $17.30. 807,799 shares of the company were exchanged, compared to its average volume of 609,940. The company has a market capitalization of $2,190.87, a price-to-earnings ratio of 24.26 and a beta of 0.10. The company has a quick ratio of 2.51, a current ratio of 2.57 and a debt-to-equity ratio of 0.52.
TiVo Corporation (NASDAQ:TIVO) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.07). TiVo Corporation had a negative net margin of 5.39% and a positive return on equity of 4.69%. The business had revenue of $197.90 million during the quarter, compared to analyst estimates of $190.83 million. During the same quarter last year, the business posted $0.59 earnings per share. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. analysts expect that TiVo Corporation will post -0.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a $0.18 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a yield of 4.16%. TiVo Corporation’s payout ratio is -184.62%.
In related news, insider Dustin Finer sold 2,369 shares of TiVo Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $18.15, for a total value of $42,997.35. Following the completion of the sale, the insider now directly owns 53,405 shares in the company, valued at $969,300.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Pamela A. Sergeeff sold 3,147 shares of TiVo Corporation stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $20.00, for a total value of $62,940.00. Following the completion of the sale, the executive vice president now owns 89,976 shares of the company’s stock, valued at $1,799,520. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,397 shares of company stock valued at $343,557. Corporate insiders own 3.57% of the company’s stock.
Several research firms have issued reports on TIVO. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $25.00 price target on shares of TiVo Corporation in a report on Friday. B. Riley reissued a “buy” rating and set a $31.00 price objective on shares of TiVo Corporation in a report on Monday, October 30th. ValuEngine raised shares of TiVo Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Jefferies Group LLC reissued a “buy” rating and set a $18.00 price objective on shares of TiVo Corporation in a report on Thursday, September 21st. Finally, Cowen and Company reissued a “buy” rating and set a $30.00 price objective on shares of TiVo Corporation in a report on Friday, September 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $27.60.
TiVo Corporation 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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