Trade Report: The PNC Financial Services Group Inc. Sold shares of Rovi Corp. (TIVO)

The PNC Financial Services Group Inc. Sold shares of Rovi Corp. (TIVO)

PNC Financial Services Group Inc. reduced its stake in Rovi Corp. (NASDAQ:TIVO) by 14.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,003 shares of the company’s stock after selling 2,623 shares during the period. PNC Financial Services Group Inc.’s holdings in Rovi Corp. were worth $148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sphinx Trading LP acquired a new position in Rovi Corp. during the second quarter valued at about $119,000. Quantitative Systematic Strategies LLC boosted its position in Rovi Corp. 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. Lazard Asset Management LLC acquired a new position in Rovi Corp. during the first quarter valued at about $190,000. Boothbay Fund Management LLC boosted its position in Rovi Corp. by 55.4% in the first quarter. Boothbay Fund Management LLC now owns 21,303 shares of the company’s stock valued at $203,000 after buying an additional 7,592 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in Rovi Corp. during the second quarter valued at about $263,000. Hedge funds and other institutional investors own 81.51% of the company’s stock.

Rovi Corp. (NASDAQ:TIVO) traded up 1.03% during trading on Friday, reaching $19.58. The company had a trading volume of 1,017,815 shares. The firm’s market capitalization is $1.61 billion. Rovi Corp. has a 12 month low of $8.01 and a 12 month high of $23.70. The stock has a 50 day moving average price of $20.93 and a 200 day moving average price of $18.42.

Several research firms have issued reports on TIVO. B. Riley reiterated a “buy” rating and issued a $13.25 price objective on shares of Rovi Corp. in a research report on Thursday, September 8th. Jefferies Group reissued a “buy” rating on shares of Rovi Corp. in a report on Monday, July 11th. Finally, Albert Fried & Company reissued a “hold” rating on shares of Rovi Corp. in a report on Sunday, September 11th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Rovi Corp. has an average rating of “Hold” and an average price target of $12.80.

In other news, CEO Naveen K. Chopra sold 100,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $11.29, for a total value of $1,129,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Cella sold 6,850 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $10.29, for a total value of $70,486.50. Following the completion of the sale, the director now directly owns 105,301 shares in the company, valued at approximately $1,083,547.29. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Rovi Corp. Company Profile

TiVo Inc (TiVo) is a provider of video technology software services and cloud-based software-as-a-service solutions. The Company’s software and cloud-based services provide an all-in-one approach for navigating content chaos by combining live, recorded, Video on demand (VOD) and over-the-top content into an intuitive user interface with search, discovery, viewing and recording, creating a unified viewing experience.

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