Pitcairn Co. acquired a new position in shares of ViacomCBS Inc. (NASDAQ:VIAC) during the 2nd quarter, HoldingsChannel reports. The firm acquired 9,892 shares of the company’s stock, valued at approximately $231,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in ViacomCBS during the second quarter worth about $27,000. Lowe Wealth Advisors LLC acquired a new stake in ViacomCBS during the second quarter worth about $36,000. Ellevest Inc. acquired a new stake in ViacomCBS during the second quarter worth about $38,000. Whittier Trust Co. acquired a new stake in ViacomCBS during the second quarter worth about $50,000. Finally, Global Retirement Partners LLC acquired a new stake in ViacomCBS during the second quarter worth about $53,000. Hedge funds and other institutional investors own 69.10% of the company’s stock.
Several research firms recently weighed in on VIAC. Rosenblatt Securities reiterated a “hold” rating and set a $19.00 price objective on shares of ViacomCBS in a research note on Thursday, May 7th. Royal Bank of Canada assumed coverage on shares of ViacomCBS in a research note on Monday, April 27th. They issued a “sector perform” rating and a $20.00 price target on the stock. ValuEngine upgraded shares of ViacomCBS from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 2nd. Benchmark dropped their price target on shares of ViacomCBS from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Macquarie raised their price target on shares of ViacomCBS from $18.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, June 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.83.
In related news, Director Linda M. Griego sold 18,075 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $28.49, for a total transaction of $514,956.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.
Shares of NASDAQ:VIAC opened at $26.07 on Friday. The stock has a market capitalization of $16.04 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.68 and a beta of 1.87. ViacomCBS Inc. has a 1-year low of $10.10 and a 1-year high of $52.62. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.05 and a current ratio of 1.22. The company has a 50 day moving average price of $23.83 and a 200 day moving average price of $23.43.
ViacomCBS (NASDAQ:VIAC) last issued its earnings results on Thursday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.18. The firm had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.57 billion. ViacomCBS had a net margin of 4.93% and a return on equity of 22.83%. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts expect that ViacomCBS Inc. will post 3.8 EPS for the current fiscal year.
ViacomCBS Inc operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.
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