Short Interest in Viacom Inc. (VIAB) Decreases By 16.8%
Viacom Inc. (NASDAQ:VIAB) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 11,378,389 shares, a drop of 16.8% from the October 14th total of 13,682,406 shares. Based on an average daily volume of 3,716,819 shares, the short-interest ratio is currently 3.1 days.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allstate Corp acquired a new stake in Viacom during the second quarter worth approximately $4,407,000. Royal Bank of Canada boosted its stake in Viacom by 104.1% in the first quarter. Royal Bank of Canada now owns 1,074,641 shares of the company’s stock worth $44,362,000 after buying an additional 548,080 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Viacom by 0.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 962,657 shares of the company’s stock worth $39,921,000 after buying an additional 4,564 shares during the period. PGGM Investments boosted its stake in Viacom by 336.8% in the second quarter. PGGM Investments now owns 1,004,717 shares of the company’s stock worth $41,666,000 after buying an additional 774,693 shares during the period. Finally, Legal & General Group Plc boosted its stake in Viacom by 2.8% in the first quarter. Legal & General Group Plc now owns 1,555,673 shares of the company’s stock worth $64,209,000 after buying an additional 42,350 shares during the period. Institutional investors own 76.11% of the company’s stock.
A number of research firms have recently commented on VIAB. Pivotal Research restated a “buy” rating and issued a $52.00 price objective on shares of Viacom in a research report on Sunday, July 24th. FBR & Co cut their price objective on shares of Viacom from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Tuesday, July 26th. Atlantic Securities upgraded shares of Viacom from an “underweight” rating to a “neutral” rating in a research report on Friday, July 22nd. Brean Capital restated a “hold” rating on shares of Viacom in a research report on Friday, July 15th. Finally, Vetr lowered shares of Viacom from a “buy” rating to a “hold” rating and set a $44.78 price objective for the company. in a research report on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Viacom has an average rating of “Hold” and a consensus price target of $43.59.
Viacom (NASDAQ:VIAB) opened at 38.42 on Friday. The company has a market cap of $15.25 billion, a PE ratio of 10.63 and a beta of 1.32. Viacom has a 1-year low of $30.11 and a 1-year high of $53.35. The firm’s 50-day moving average is $36.84 and its 200 day moving average is $40.68.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The company earned $3.23 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Viacom had a return on equity of 36.21% and a net margin of 11.52%. Viacom’s quarterly revenue was down 14.8% on a year-over-year basis. During the same period last year, the business earned $1.54 earnings per share. Analysts predict that Viacom will post $3.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, December 13th. Viacom’s dividend payout ratio is currently 22.10%.
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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