Traders Sell Shares of Viacom Inc. (VIAB) on Strength (VIAB)
Investors sold shares of Viacom Inc. (NASDAQ:VIAB) on strength during trading on Friday. $15.07 million flowed into the stock on the tick-up and $27.49 million flowed out of the stock on the tick-down, for a money net flow of $12.42 million out of the stock. Of all companies tracked, Viacom had the 0th highest net out-flow for the day. Viacom traded up $0.30 for the day and closed at $42.91
VIAB has been the topic of a number of recent analyst reports. Jefferies Group restated a “buy” rating on shares of Viacom in a research note on Thursday. Deutsche Bank AG decreased their target price on shares of Viacom from $39.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, August 8th. BMO Capital Markets restated a “hold” rating and set a $40.00 target price on shares of Viacom in a research note on Friday, August 5th. Wells Fargo & Co. restated an “underperform” rating and set a $35.00 target price (down previously from $39.00) on shares of Viacom in a research note on Saturday, August 6th. Finally, Morgan Stanley restated a “sell” rating and set a $38.00 target price on shares of Viacom in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.32.
The stock has a 50-day moving average of $43.49 and a 200 day moving average of $41.24. The firm has a market cap of $17.02 billion and a P/E ratio of 8.26.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.04. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.01 billion. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.47 EPS. On average, equities analysts anticipate that Viacom Inc. will post $3.91 earnings per share for the current year.
In related news, EVP Michael D. Fricklas sold 10,800 shares of the company’s stock in a transaction on Monday, June 20th. The stock was sold at an average price of $45.29, for a total transaction of $489,132.00. Following the transaction, the executive vice president now owns 5,357 shares of the company’s stock, valued at $242,618.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of hedge funds and institutional investors have made changes to their positions in the company. Bridgewater Associates LP raised its position in shares of Viacom by 17.5% in the fourth quarter. Bridgewater Associates LP now owns 664,091 shares of the company’s stock worth $27,334,000 after buying an additional 98,846 shares in the last quarter. American International Group Inc. raised its position in shares of Viacom by 3,746.7% in the fourth quarter. American International Group Inc. now owns 6,882,543 shares of the company’s stock worth $283,286,000 after buying an additional 6,703,620 shares in the last quarter. Airain ltd acquired a new position in shares of Viacom during the fourth quarter worth $3,463,000. KBC Group NV raised its position in shares of Viacom by 15.0% in the fourth quarter. KBC Group NV now owns 199,132 shares of the company’s stock worth $8,196,000 after buying an additional 25,933 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Viacom by 20.9% in the fourth quarter. Jennison Associates LLC now owns 1,833,961 shares of the company’s stock worth $75,486,000 after buying an additional 317,189 shares in the last quarter.
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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