Water Island Capital buys $66,480,520 stake in TiVo (TIVO)

TiVo (TIVO) : Water Island Capital scooped up 6,043,336 additional shares in TiVo during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 6,265,836 shares of TiVo which is valued at $66,480,520.TiVo makes up approximately 4.50% of Water Island Capital’s portfolio.

Other Hedge Funds, Including , A.r.t. Advisors sold out all of its stake in TIVO during the most recent quarter. The investment firm sold 60,881 shares of TIVO which is valued $645,947.Gagnon Securities reduced its stake in TIVO by selling 320 shares or 0.81% in the most recent quarter. The Hedge Fund company now holds 39,191 shares of TIVO which is valued at $415,817. TiVo makes up approx 0.18% of Gagnon Securities’s portfolio.Teacher Retirement System Of Texas boosted its stake in TIVO in the latest quarter, The investment management firm added 1,661 additional shares and now holds a total of 13,773 shares of TiVo which is valued at $145,305. Sg Americas Securities sold out all of its stake in TIVO during the most recent quarter. The investment firm sold 264,256 shares of TIVO which is valued $2,787,901.

TiVo opened for trading at $10.55 and hit $10.69 on the upside on Thursday, eventually ending the session at $10.69, with a gain of 0.75% or 0.08 points. The heightened volatility saw the trading volume jump to 16,04,001 shares. Company has a market cap of $1,081 M.

On the company’s financial health, TiVo reported $0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 31, 2016. Analyst had a consensus of $0.08. The company had revenue of $99.70 million for the quarter, compared to analysts expectations of $99.55 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on TiVo. MKM Partners Downgraded TiVo on Jun 1, 2016 to ” Neutral”, Price Target of the shares are set at $10.70.

TiVo Inc. (TiVo) is a provider of television software services and cloud-based software-as-a-service solutions that enable viewers to consume content from a range of sources across a variety of screens in and out of the home. The Company offers a whole-home solution that includes 4-Tuner and 6-Tuner digital video recorders (DVRs)/gateways non-DVR IP set-top boxes (STBs) and software to enable streaming to application on third-party devices such as iOS and Android mobile phones and tablets. The Company generates revenues from four sources: Consumer Service Television Service Providers (also referred to as MSOs or Pay TV Operators) Advertising and Research Services and Licensing. TiVo’s technology for enabling the TiVo service includes the TiVo service client software platform mobile apps the TiVo service infrastructure and TiVo-enabled hardware designs. The Company distributes its software technology and services through a range of consumer electronic applications and devices.

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