RealNetworks Stock Gaps Down On Dividend (RNWK)
(Updates to add detail about special dividend payment in second paragraph.)NEW YORK ( TheStreet) -- Shares of RealNetworks (Nasdaq: RNWK) were gapping down Wednesday morning with an open price 31.5% lower than Tuesday's closing price. The stock closed at $3.05 Tuesday and opened today's trading at $2.09. The company previously declared a special dividend of $1 per share payable on Aug. 23. The average volume for RealNetworks has been 438,800 shares per day over the past 30 days. RealNetworks has a market cap of $392.6 million and is part of the technology sector and computer software & services industry. Shares are down 27.4% year to date as of the close of trading on Tuesday. RealNetworks, Inc. provides network-delivered digital media products and services. It develops and markets software products and services that enable the creation, distribution, and consumption of digital media, including audio and video. The company has a P/E ratio of 47.8, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates RealNetworks as a sell. The area that we feel has been the company's primary weakness has been its feeble growth in its earnings per share. You can view the full RealNetworks Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.
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