Investors Sell Shares of Viacom Inc. (VIAB) on Strength (VIAB)
Investors sold shares of Viacom Inc. (NASDAQ:VIAB) on strength during trading on Monday. $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 equities 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
A number of equities research analysts recently issued reports on the stock. Vetr upgraded shares of Viacom from a “sell” rating to a “hold” rating and set a $42.50 target price for the company in a research report on Tuesday, August 2nd. Pivotal Research reiterated a “buy” rating and set a $50.00 target price (down previously from $52.00) on shares of Viacom in a research report on Thursday, April 28th. FBR & Co reiterated an “outperform” rating and set a $51.00 target price on shares of Viacom in a research report on Thursday, April 21st. Jefferies Group reiterated a “buy” rating on shares of Viacom in a research report on Thursday, August 11th. Finally, Deutsche Bank AG dropped their target price on shares of Viacom from $38.00 to $36.00 and set a “hold” rating for the company in a research report on Monday, May 2nd. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.38.
The company has a market cap of $16.98 billion and a PE ratio of 8.24. The company has a 50 day moving average of $43.54 and a 200 day moving average of $41.19.
Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ 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. During the same period in the previous year, the firm posted $1.47 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Analysts anticipate that Viacom Inc. will post $3.91 earnings per share for the current fiscal year.
In other news, EVP Michael D. Fricklas sold 10,800 shares of the business’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $45.29, for a total transaction of $489,132.00. Following the sale, the executive vice president now directly owns 5,357 shares in the company, valued at $242,618.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Several hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Viacom by 4.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,726 shares of the company’s stock valued at $20,857,000 after buying an additional 21,925 shares during the period. Bridgewater Associates LP boosted its stake in shares of Viacom by 17.5% in the fourth quarter. Bridgewater Associates LP now owns 664,091 shares of the company’s stock valued at $27,334,000 after buying an additional 98,846 shares during the last quarter. American International Group Inc. boosted its stake 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 valued at $283,286,000 after buying an additional 6,703,620 shares during the last quarter. Airain ltd bought a new stake in shares of Viacom during the fourth quarter valued at approximately $3,463,000. Finally, KBC Group NV boosted its stake in shares of Viacom by 15.0% in the fourth quarter. KBC Group NV now owns 199,132 shares of the company’s stock valued at $8,196,000 after buying an additional 25,933 shares during 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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