Voleon Capital Management LP Reduces Stake in ViacomCBS Inc. (NASDAQ:VIAC)

Voleon Capital Management LP lessened its position in ViacomCBS Inc. (NASDAQ:VIAC) by 74.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 360,000 shares of the company’s stock after selling 1,040,000 shares during the period. ViacomCBS comprises 10.1% of Voleon Capital Management LP’s portfolio, making the stock its 6th largest holding. Voleon Capital Management LP owned about 0.06% of ViacomCBS worth $16,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Auxier Asset Management lifted its stake in shares of ViacomCBS by 1.2% in the fourth quarter. Auxier Asset Management now owns 12,236 shares of the company’s stock worth $456,000 after buying an additional 141 shares in the last quarter. Federated Hermes Inc. lifted its position in ViacomCBS by 19.4% during the fourth quarter. Federated Hermes Inc. now owns 1,165 shares of the company’s stock valued at $43,000 after purchasing an additional 189 shares during the period. Carret Asset Management LLC lifted its position in ViacomCBS by 2.6% during the fourth quarter. Carret Asset Management LLC now owns 7,941 shares of the company’s stock valued at $296,000 after purchasing an additional 200 shares during the period. Captrust Financial Advisors lifted its position in ViacomCBS by 2.5% during the fourth quarter. Captrust Financial Advisors now owns 9,027 shares of the company’s stock valued at $339,000 after purchasing an additional 218 shares during the period. Finally, Atlas Capital Advisors LLC lifted its position in ViacomCBS by 78.5% during the first quarter. Atlas Capital Advisors LLC now owns 682 shares of the company’s stock valued at $31,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 77.19% of the company’s stock.

A number of research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of ViacomCBS from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $59.00 to $45.00 in a research report on Friday, May 7th. Gabelli upgraded shares of ViacomCBS from a “hold” rating to a “buy” rating in a research report on Tuesday, March 30th. KeyCorp reduced their target price on shares of ViacomCBS from $35.00 to $34.00 and set an “underweight” rating for the company in a report on Friday, May 7th. Morgan Stanley reduced their target price on shares of ViacomCBS from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, April 12th. Finally, Rosenblatt Securities reduced their target price on shares of ViacomCBS from $61.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, May 12th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.58.

VIAC stock traded down $0.90 during trading on Thursday, hitting $40.40. 159,590 shares of the company’s stock traded hands, compared to its average volume of 14,673,298. ViacomCBS Inc. has a 52 week low of $24.11 and a 52 week high of $101.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.78 and a quick ratio of 1.65. The firm has a fifty day simple moving average of $41.94. The firm has a market capitalization of $26.11 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.73 and a beta of 1.66.

ViacomCBS (NASDAQ:VIAC) last released its quarterly earnings data on Thursday, May 6th. The company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.30. The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.29 billion. ViacomCBS had a net margin of 10.56% and a return on equity of 17.88%. ViacomCBS’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. As a group, analysts expect that ViacomCBS Inc. will post 3.94 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 1st. Stockholders of record on Tuesday, June 15th were issued a $0.24 dividend. The ex-dividend date was Monday, June 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.38%. ViacomCBS’s dividend payout ratio (DPR) is presently 22.86%.

ViacomCBS Company Profile

ViacomCBS Inc operates as a media and entertainment company worldwide. The company operates through TV Entertainment, Cable Networks, and Filmed Entertainment segments. The TV Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24/7 cable program service that provides college sports and related content, as well as streaming and cable subscription services.

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Institutional Ownership by Quarter for ViacomCBS (NASDAQ:VIAC)

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