TiVo (TIVO) Rating Lowered to Sell at Zacks Investment Research

TiVo (NASDAQ:TIVO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Estimates have remained stable ahead of TiVo’s fourth-quarter 2017 results. The company has been benefiting from new licensing agreements, as well as the introduction of innovative products. Going ahead, the merger of TiVo and Rovi has brought together two leading players in the media entertainment industry, with complementary products and services, as well as a number of patented technologies. Nonetheless, we are concerned about the uncertainty regarding the settlement of the ongoing dispute between TiVo and Comcast. Comcast has decided to fight against the ruling in the US Patent and Trademark office, which may take another 8-12 months to resolve. Also, Comcast may not renew its existing licensing agreement with TiVo, which is set to expire in July this year, thereby resulting in a huge loss of revenues for the company. All this makes us increasingly cautious about TiVo near-term prospects.”

A number of other analysts have also recently weighed in on TIVO. B. Riley raised shares of TiVo from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Friday, February 2nd. Piper Jaffray Companies reissued a “buy” rating and set a $25.00 target price on shares of TiVo in a report on Friday, November 3rd. Finally, BWS Financial assumed coverage on shares of TiVo in a report on Monday, January 22nd. They set a “buy” rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.20.

Shares of TiVo (NASDAQ TIVO) traded down $0.05 during trading hours on Wednesday, hitting $13.30. 744,600 shares of the company’s stock were exchanged, compared to its average volume of 1,409,486. The firm has a market capitalization of $1,629.42, a PE ratio of -34.10, a price-to-earnings-growth ratio of 1.05 and a beta of -0.10. TiVo has a 52 week low of $12.75 and a 52 week high of $21.75. The company has a quick ratio of 2.33, a current ratio of 2.38 and a debt-to-equity ratio of 0.53.

In other news, CEO Enrique Rodriguez acquired 55,974 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were acquired at an average price of $17.86 per share, with a total value of $999,695.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.57% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. increased its holdings in shares of TiVo by 151.1% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 97,760 shares of the technology company’s stock worth $1,525,000 after acquiring an additional 58,820 shares during the period. Deutsche Bank AG increased its stake in TiVo by 25.1% during the 4th quarter. Deutsche Bank AG now owns 505,115 shares of the technology company’s stock valued at $7,878,000 after buying an additional 101,488 shares during the period. Jefferies Group LLC increased its stake in TiVo by 337.3% during the 4th quarter. Jefferies Group LLC now owns 142,010 shares of the technology company’s stock valued at $2,215,000 after buying an additional 109,535 shares during the period. Kamunting Street Capital Management L.P. increased its stake in TiVo by 400.0% during the 4th quarter. Kamunting Street Capital Management L.P. now owns 100,000 shares of the technology company’s stock valued at $1,560,000 after buying an additional 80,000 shares during the period. Finally, AMP Capital Investors Ltd acquired a new position in TiVo during the 4th quarter valued at about $192,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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TiVo Company 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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