Insider Selling: Tom Carson Sells 25,000 Shares of Rovi Corp. Stock (ROVI)
Rovi Corp. (NASDAQ:ROVI) CEO Tom Carson sold 25,000 shares of Rovi Corp. stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $21.93, for a total value of $548,250.00. Following the completion of the sale, the chief executive officer now directly owns 207,500 shares in the company, valued at approximately $4,550,475. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on ROVI shares. Analysts at BMO Capital Markets raised their price target on shares of Rovi Corp. from $20.00 to $22.00 in a research note to investors on Thursday. Separately, analysts at Zacks upgraded shares of Rovi Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $20.70 price target on the stock. Finally, analysts at Pacific Crest upgraded shares of Rovi Corp. from an “underperform” rating to a “sector perform” rating in a research note to investors on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $20.96.
Rovi Corp. (NASDAQ:ROVI) traded up 1.52% during mid-day trading on Thursday, hitting $22.04. 3,766,097 shares of the company’s stock traded hands. Rovi Corp. has a 1-year low of $16.00 and a 1-year high of $26.55. The stock’s 50-day moving average is $18.73 and its 200-day moving average is $19.32. The company’s market cap is $2.153 billion.
Rovi Corp. (NASDAQ:ROVI) last announced its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.48 by $0.07. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $151.93 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s quarterly revenue was down 12.6% on a year-over-year basis. On average, analysts predict that Rovi Corp. will post $1.84 earnings per share for the current fiscal year.
Rovi Corporation is focused on powering the discovery and enjoyment of digital entertainment by providing a set of integrated solutions that are embedded in its customers’ products and services and used by end consumers to simplify and guide their interaction with digital entertainment.
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