Symons Capital Management Inc. Cuts Stock Position in Viacom, Inc. (NASDAQ:VIAB)

Symons Capital Management Inc. lowered its holdings in Viacom, Inc. (NASDAQ:VIAB) by 5.0% during the 3rd quarter, Holdings Channel reports. The firm owned 191,216 shares of the company’s stock after selling 9,980 shares during the period. Viacom makes up about 2.1% of Symons Capital Management Inc.’s investment portfolio, making the stock its 27th largest holding. Symons Capital Management Inc.’s holdings in Viacom were worth $4,594,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nuveen Asset Management LLC raised its stake in shares of Viacom by 487.9% in the second quarter. Nuveen Asset Management LLC now owns 5,170,026 shares of the company’s stock valued at $154,429,000 after buying an additional 4,290,648 shares during the period. Vanguard Group Inc. raised its stake in shares of Viacom by 4.3% in the second quarter. Vanguard Group Inc. now owns 41,525,508 shares of the company’s stock valued at $1,240,367,000 after buying an additional 1,730,488 shares during the period. Prudential Financial Inc. raised its stake in shares of Viacom by 33.6% in the second quarter. Prudential Financial Inc. now owns 3,560,202 shares of the company’s stock valued at $106,343,000 after buying an additional 895,366 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Viacom by 808.0% in the third quarter. Assenagon Asset Management S.A. now owns 919,676 shares of the company’s stock valued at $22,100,000 after buying an additional 818,385 shares during the period. Finally, APG Asset Management N.V. raised its stake in shares of Viacom by 24.6% in the second quarter. APG Asset Management N.V. now owns 3,748,555 shares of the company’s stock valued at $98,322,000 after buying an additional 739,100 shares during the period. 75.89% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on VIAB shares. TheStreet lowered Viacom from a “b-” rating to a “c+” rating in a research note on Tuesday, August 27th. Moffett Nathanson set a $31.00 price objective on Viacom and gave the company a “hold” rating in a research note on Saturday, October 19th. Guggenheim reiterated a “buy” rating on shares of Viacom in a research note on Wednesday, September 4th. Barclays decreased their price objective on Viacom from $33.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. Finally, Wells Fargo & Co decreased their price objective on Viacom from $23.00 to $18.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 23rd. Four equities research 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 currently has a consensus rating of “Hold” and an average price target of $31.13.

Shares of NASDAQ:VIAB traded up $0.18 during midday trading on Friday, reaching $22.75. 3,392,500 shares of the company traded hands, compared to its average volume of 4,743,703. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 5.52, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. Viacom, Inc. has a 12 month low of $20.93 and a 12 month high of $33.35. The firm’s fifty day moving average price is $22.83 and its two-hundred day moving average price is $27.24. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.02.

Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.33 billion. Viacom had a return on equity of 21.71% and a net margin of 12.68%. Viacom’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 EPS. Analysts forecast that Viacom, Inc. will post 4.02 earnings per share for the current year.

About Viacom

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.

See Also: What are trading strategies for the 52-week high/low?

Want to see what other hedge funds are holding VIAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viacom, Inc. (NASDAQ:VIAB).

Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

Receive News & Ratings for Viacom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viacom and related companies with MarketBeat.com's FREE daily email newsletter.