Convergence Investment Partners LLC reduced its position in shares of Viacom, Inc. (NASDAQ:VIAB) by 37.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,461 shares of the company’s stock after selling 34,458 shares during the quarter. Convergence Investment Partners LLC’s holdings in Viacom were worth $1,613,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Pearl River Capital LLC acquired a new stake in Viacom during the 4th quarter valued at $26,000. Bruderman Asset Management LLC raised its stake in Viacom by 935.5% during the 4th quarter. Bruderman Asset Management LLC now owns 1,139 shares of the company’s stock valued at $29,000 after purchasing an additional 1,029 shares during the period. Valley National Advisers Inc. raised its stake in Viacom by 66.4% during the 4th quarter. Valley National Advisers Inc. now owns 1,118 shares of the company’s stock valued at $29,000 after purchasing an additional 446 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Viacom during the 1st quarter valued at $30,000. Finally, CWM LLC raised its stake in Viacom by 507.6% during the 4th quarter. CWM LLC now owns 1,197 shares of the company’s stock valued at $31,000 after purchasing an additional 1,000 shares during the period. 80.89% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the stock. TheStreet raised shares of Viacom from a “c+” rating to a “b-” rating in a research note on Friday, April 26th. Zacks Investment Research downgraded shares of Viacom from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. BidaskClub downgraded shares of Viacom from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised shares of Viacom from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $31.00 to $36.00 in a research note on Thursday, April 4th. Finally, ValuEngine downgraded shares of Viacom from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Viacom has an average rating of “Hold” and a consensus price target of $34.57.
NASDAQ VIAB opened at $28.71 on Tuesday. Viacom, Inc. has a 1-year low of $23.31 and a 1-year high of $34.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.10 and a current ratio of 1.31. The firm has a market capitalization of $11.57 billion, a PE ratio of 6.97, a P/E/G ratio of 0.84 and a beta of 1.45.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.10. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.12 billion. Viacom had a net margin of 11.60% and a return on equity of 23.34%. Viacom’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. On average, sell-side analysts predict that Viacom, Inc. will post 4.2 EPS for the current year.
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Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.
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