Trexquant Investment LP Raises Position in TiVo Corp (TIVO)
Trexquant Investment LP increased its position in TiVo Corp (NASDAQ:TIVO) by 129.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,110 shares of the technology company’s stock after purchasing an additional 18,110 shares during the quarter. Trexquant Investment LP’s holdings in TiVo were worth $400,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of TIVO. FMR LLC grew its position in shares of TiVo by 16.2% during the 3rd quarter. FMR LLC now owns 781,168 shares of the technology company’s stock worth $9,726,000 after buying an additional 109,083 shares during the period. BlackRock Inc. grew its position in shares of TiVo by 3.3% during the 3rd quarter. BlackRock Inc. now owns 16,952,639 shares of the technology company’s stock worth $211,061,000 after buying an additional 546,090 shares during the period. Bank of New York Mellon Corp grew its position in shares of TiVo by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,488,966 shares of the technology company’s stock worth $30,988,000 after buying an additional 86,649 shares during the period. Eagle Boston Investment Management Inc. grew its position in shares of TiVo by 8.8% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 345,658 shares of the technology company’s stock worth $4,303,000 after buying an additional 27,982 shares during the period. Finally, Factorial Partners LLC grew its position in shares of TiVo by 9.3% during the 3rd quarter. Factorial Partners LLC now owns 59,000 shares of the technology company’s stock worth $735,000 after buying an additional 5,000 shares during the period. 92.18% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. B. Riley boosted their target price on TiVo from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. BidaskClub upgraded TiVo from a “sell” rating to a “hold” rating in a report on Friday, August 24th. JPMorgan Chase & Co. cut their price objective on TiVo from $30.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, August 9th. ValuEngine upgraded TiVo from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, Zacks Investment Research upgraded TiVo from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $19.50.
TiVo (NASDAQ:TIVO) last released its earnings results on Wednesday, November 7th. The technology company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.44). The firm had revenue of $164.70 million during the quarter, compared to the consensus estimate of $166.85 million. TiVo had a negative net margin of 5.76% and a positive return on equity of 4.65%. The company’s revenue was down 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, equities analysts expect that TiVo Corp will post 0.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 7.21%. The ex-dividend date of this dividend is Wednesday, December 5th. TiVo’s payout ratio is 73.47%.
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TiVo Company Profile
TiVo Corporation provides media and entertainment products for the consumer entertainment industry worldwide. The company operates in two segments, Product and Intellectual Property Licensing. The Product segment offers platform solutions, such as TiVo Service Platform, a cloud-based service that powers the TiVo Service client software, which operates on set-top boxes in consumer homes, as well as applications that operate on third party software platforms, such as iOS and Android; user experience solutions that allow service providers to customize elements of the interactive program guides for their customers, as well as to upgrade their programming features and services under the G-GUIDE brand; and CubiTV and TiVo Lite middleware solutions for pay TV service providers comprising cable, satellite, terrestrial, and telecommunications operators.
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