Viacom Inc. (VIAB) Sees Large Volume Increase
Viacom Inc. (NASDAQ:VIAB) saw unusually-strong trading volume on Monday . Approximately 3,484,661 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 3,054,041 shares.The stock last traded at $41.77 and had previously closed at $43.49.
A number of equities research analysts recently issued reports on VIAB shares. Stifel Nicolaus restated a “buy” rating and issued a $49.00 target price on shares of Viacom in a report on Monday, April 25th. FBR & Co restated a “buy” rating on shares of Viacom in a report on Friday, April 29th. Pivotal Research restated a “buy” rating and issued a $50.00 target price (down from $52.00) on shares of Viacom in a report on Thursday, April 28th. Jefferies Group restated a “buy” rating on shares of Viacom in a report on Tuesday, May 24th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Viacom in a report on Friday, June 10th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $46.41.
The firm has a 50 day moving average price of $43.96 and a 200-day moving average price of $41.11. The stock has a market cap of $16.56 billion and a price-to-earnings ratio of 8.03.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. During the same quarter in the previous year, the business posted $1.47 EPS. The company earned $3.11 billion during the quarter, compared to analyst estimates of $3.01 billion. The company’s revenue was up 1.6% on a year-over-year basis. Equities analysts expect that Viacom Inc. will post $3.91 earnings per share for the current year.
In other news, EVP Michael D. Fricklas sold 10,800 shares of the firm’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $45.29, for a total value of $489,132.00. Following the sale, the executive vice president now owns 5,357 shares in the company, valued at $242,618.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Other large investors recently made changes to their positions in the company. American International Group Inc. increased 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 acquired a new stake in Viacom during the fourth quarter worth $3,463,000. KBC Group NV increased its stake in 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. Jennison Associates LLC increased its stake in 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. Finally, Principal Financial Group Inc. increased its stake in Viacom by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 479,830 shares of the company’s stock worth $19,750,000 after buying an additional 8,318 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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