RealNetworks’ (NASDAQ:RNWK) Buy Rating Reaffirmed at B. Riley
RealNetworks, Inc. (NASDAQ:RNWK)‘s stock had its “buy” rating reiterated by analysts at B. Riley in a research note issued to investors on Sunday. They currently have a $6.50 price target on the technology company’s stock. B. Riley’s price objective would suggest a potential upside of 49.43% from the stock’s previous close.
Separately, Zacks Investment Research raised RealNetworks from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th.
Shares of RealNetworks (NASDAQ RNWK) remained flat at $4.35 on Friday. 35,589 shares of the company traded hands. The firm’s 50 day moving average is $4.32 and its 200 day moving average is $4.62. The firm’s market cap is $161.39 million. RealNetworks has a 12-month low of $4.09 and a 12-month high of $5.45.
RealNetworks (NASDAQ:RNWK) last announced its quarterly earnings data on Wednesday, May 3rd. The technology company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.05. RealNetworks had a negative return on equity of 39.74% and a negative net margin of 25.08%. The business had revenue of $30.58 million for the quarter, compared to analyst estimates of $30.75 million. Analysts expect that RealNetworks will post ($0.82) earnings per share for the current year.
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In other RealNetworks news, Director Dominique Trempont sold 12,842 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $4.41, for a total value of $56,633.22. Following the sale, the director now owns 12,780 shares of the company’s stock, valued at $56,359.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Parham sold 12,500 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $4.26, for a total value of $53,250.00. Following the completion of the sale, the senior vice president now directly owns 23,607 shares in the company, valued at approximately $100,565.82. The disclosure for this sale can be found here. Corporate insiders own 39.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Park West Asset Management LLC raised its stake in RealNetworks by 58.8% in the first quarter. Park West Asset Management LLC now owns 1,787,422 shares of the technology company’s stock valued at $8,651,000 after buying an additional 662,078 shares during the period. Prudential Financial Inc. raised its stake in RealNetworks by 10.6% in the first quarter. Prudential Financial Inc. now owns 140,754 shares of the technology company’s stock valued at $681,000 after buying an additional 13,500 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in RealNetworks by 1.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 396,749 shares of the technology company’s stock valued at $1,686,000 after buying an additional 7,100 shares during the period. Schwab Charles Investment Management Inc. raised its stake in RealNetworks by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 100,333 shares of the technology company’s stock valued at $433,000 after buying an additional 1,134 shares during the period. Finally, Alambic Investment Management L.P. raised its stake in RealNetworks by 3.6% in the second quarter. Alambic Investment Management L.P. now owns 39,950 shares of the technology company’s stock valued at $172,000 after buying an additional 1,385 shares during the period. 50.63% of the stock is currently owned by institutional investors.
RealNetworks, Inc creates applications and services that enable to connect with digital media. The Company connects consumers with their digital media directly and through partners, focusing on supporting various network, devices, media types and social networks. It operates through three segments: Consumer Media, Mobile Services and Games.
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