Trexquant Investment LP Buys New Stake in Viacom Inc. (VIAB)
Trexquant Investment LP bought a new position in shares of Viacom Inc. (NASDAQ:VIAB) during the second quarter, Holdings Channel reports. The firm bought 27,400 shares of the company’s stock, valued at approximately $920,000.
A number of other hedge funds and other institutional investors have also modified their holdings of VIAB. Wetherby Asset Management Inc. increased its position in shares of Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock worth $335,000 after buying an additional 53 shares in the last quarter. Cleararc Capital Inc. increased its position in shares of Viacom by 0.9% in the first quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock worth $396,000 after buying an additional 72 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Viacom by 0.6% in the first quarter. Stratos Wealth Partners LTD. now owns 11,781 shares of the company’s stock worth $549,000 after buying an additional 76 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of Viacom by 0.5% in the first quarter. Suntrust Banks Inc. now owns 21,318 shares of the company’s stock worth $991,000 after buying an additional 106 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its position in shares of Viacom by 0.7% in the first quarter. Great Lakes Advisors LLC now owns 16,983 shares of the company’s stock worth $792,000 after buying an additional 112 shares in the last quarter. 77.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Viacom Inc. (NASDAQ VIAB) opened at 30.17 on Thursday. The company has a 50-day moving average price of $34.25 and a 200 day moving average price of $39.12. Viacom Inc. has a 52-week low of $29.65 and a 52-week high of $46.72. The firm has a market capitalization of $12.12 billion, a PE ratio of 9.97 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. Analysts expect that Viacom Inc. will post $3.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, September 14th. Viacom’s payout ratio is 21.98%.
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A number of brokerages recently commented on VIAB. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target on shares of Viacom in a report on Monday, April 17th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $48.00 price target on shares of Viacom in a report on Monday, June 12th. BidaskClub downgraded Viacom from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 5th. BMO Capital Markets reissued a “market perform” rating and issued a $35.00 price target (down previously from $42.00) on shares of Viacom in a report on Wednesday. Finally, Royal Bank Of Canada reissued an “underperform” rating and issued a $30.00 price target (down previously from $35.00) on shares of Viacom in a report on Wednesday. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.14.
Viacom Company Profile
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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