Engineers Gate Manager LP Invests $1.03 Million in Viacom Inc. (VIAB)
Engineers Gate Manager LP bought a new position in shares of Viacom Inc. (NASDAQ:VIAB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 30,792 shares of the company’s stock, valued at approximately $1,034,000.
Several other hedge funds have also recently bought and sold shares of the business. Freestone Capital Holdings LLC grew its holdings in shares of Viacom by 1.9% during the 2nd quarter. Freestone Capital Holdings LLC now owns 495,000 shares of the company’s stock worth $16,617,000 after acquiring an additional 9,292 shares during the period. Sterling Investment Advisors Ltd. grew its holdings in shares of Viacom by 26.5% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 21,480 shares of the company’s stock worth $721,000 after acquiring an additional 4,500 shares during the period. Matrix Asset Advisors Inc. NY grew its holdings in shares of Viacom by 33.2% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 244,155 shares of the company’s stock worth $8,196,000 after acquiring an additional 60,815 shares during the period. Intact Investment Management Inc. purchased a new position in shares of Viacom during the 2nd quarter worth approximately $349,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Viacom by 1.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,174 shares of the company’s stock worth $879,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 79.17% of the company’s stock.
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A number of research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Viacom in a report on Tuesday. Sanford C. Bernstein reiterated an “underperform” rating on shares of Viacom in a report on Tuesday. Wells Fargo & Company downgraded Viacom from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 5th. KeyCorp reiterated a “hold” rating on shares of Viacom in a report on Friday, August 25th. Finally, BidaskClub downgraded Viacom from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the stock. Viacom currently has an average rating of “Hold” and a consensus target price of $42.04.
Shares of Viacom Inc. (NASDAQ:VIAB) opened at 27.91 on Thursday. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 7.68 and a beta of 1.59. Viacom Inc. has a 52 week low of $26.65 and a 52 week high of $46.72. The firm’s 50-day moving average is $30.37 and its 200-day moving average is $36.76.
Viacom (NASDAQ:VIAB) last announced its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. Viacom’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. Analysts forecast that Viacom Inc. will post $3.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.20 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.80 annualized dividend and a yield of 2.87%. Viacom’s dividend payout ratio (DPR) is 21.98%.
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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