Viacom Inc. (VIAB) Sees Significant Growth in Short Interest
Viacom Inc. (NASDAQ:VIAB) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 25,433,812 shares, an increase of 17.5% from the August 31st total of 21,644,103 shares. Based on an average daily trading volume, of 5,704,874 shares, the short-interest ratio is currently 4.5 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in VIAB. BlackRock Inc. increased its holdings in shares of Viacom by 3,068.5% during the first quarter. BlackRock Inc. now owns 21,485,851 shares of the company’s stock valued at $1,001,671,000 after acquiring an additional 20,807,733 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Viacom by 3,113.9% during the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock valued at $943,269,000 after acquiring an additional 19,603,597 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Viacom by 28.9% during the second quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company’s stock valued at $972,330,000 after acquiring an additional 6,496,269 shares in the last quarter. Oldfield Partners LLP bought a new stake in shares of Viacom during the second quarter valued at approximately $153,511,000. Finally, Steadfast Capital Management LP bought a new stake in shares of Viacom during the second quarter valued at approximately $117,707,000. Hedge funds and other institutional investors own 79.18% of the company’s stock.
Viacom (NASDAQ:VIAB) opened at 27.84 on Friday. The firm has a market cap of $11.20 billion, a P/E ratio of 7.66 and a beta of 1.59. Viacom has a 52-week low of $26.65 and a 52-week high of $46.72. The firm’s 50-day moving average price is $29.28 and its 200-day moving average price is $36.20.
Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. The firm had revenue of $3.36 billion during 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 quarter in the previous year, the company posted $1.05 earnings per share. Equities research analysts expect that Viacom will post $3.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.87%. Viacom’s dividend payout ratio is 21.98%.
Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $48.00 price target on shares of Viacom in a research report on Monday, June 12th. BidaskClub raised Viacom from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Royal Bank Of Canada reissued a “sell” rating and set a $30.00 price objective on shares of Viacom in a report on Tuesday, June 6th. UBS AG dropped their price objective on Viacom from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 4th. Finally, Atlantic Securities cut Viacom from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $45.00 to $30.00 in a report on Friday, August 4th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $41.72.
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.
Receive News & Ratings for Viacom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viacom Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.