TiVo Corporation (TIVO) Sees Large Volume Increase After Dividend Announcement
TiVo Corporation (NASDAQ:TIVO) shares saw an uptick in trading volume on Thursday following a dividend announcement from the company. 3,421,172 shares were traded during trading, an increase of 357% from the previous session’s volume of 748,086 shares.The stock last traded at $21.00 and had previously closed at $19.10.
The newly announced dividend which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.43%.
Several research firms recently weighed in on TIVO. B. Riley restated a “buy” rating and set a $31.00 price target on shares of TiVo Corporation in a research report on Monday, November 28th. Zacks Investment Research upgraded TiVo Corporation from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $34.00 price target on shares of TiVo Corporation in a research report on Wednesday, November 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. TiVo Corporation has a consensus rating of “Hold” and a consensus price target of $17.54.
The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 35.90 and a beta of 0.30. The stock’s 50-day moving average price is $19.68 and its 200 day moving average price is $20.30.
In related news, Director Glenn W. Welling acquired 75,000 shares of the firm’s stock in a transaction on Thursday, December 15th. The shares were acquired at an average cost of $21.30 per share, for a total transaction of $1,597,500.00. Following the completion of the transaction, the director now directly owns 40,689 shares in the company, valued at approximately $866,675.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.00% of the company’s stock.
A number of large investors have recently modified their holdings of TIVO. SG Americas Securities LLC acquired a new stake in shares of TiVo Corporation during the third quarter valued at $2,114,000. Neuberger Berman Group LLC acquired a new stake in shares of TiVo Corporation during the third quarter valued at $45,701,000. Cipher Capital LP increased its stake in shares of TiVo Corporation by 27.0% in the fourth quarter. Cipher Capital LP now owns 94,392 shares of the company’s stock valued at $1,973,000 after buying an additional 20,087 shares during the last quarter. Quantitative Systematic Strategies LLC increased its stake in shares of TiVo Corporation by 4.8% in the second quarter. Quantitative Systematic Strategies LLC now owns 16,501 shares of the company’s stock valued at $163,000 after buying an additional 758 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of TiVo Corporation by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 13,773 shares of the company’s stock valued at $136,000 after buying an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.
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About TiVo Corporation
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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