The company is so far trading up by 10.85% at $26.26 and has one of the biggest price gains of the day. More than 10 shares have changed hands.
Short traders are feeling a little more bearish on the company if you put credence in the change in short interest. The stock recorded a rise in short interest of 3.27% as of October 13, 2017 from the last reporting period. Short shares increased from 25,708,093 to 26,549,263 over that period. Days to cover decreased -4.0 to 4.0 and the percentage of shorted shares is 0.08% as of October 13.
The following firms have recently changed their position in VIAB. AMP Capital Investors Ltd grew its position by buying 58,222 shares an increase of 29.7% as of 09/30/2017. AMP Capital Investors Ltd controls 254,197 shares with a value of $7,077,000. The value of the position overall is up by 5.1%. As of the end of the quarter Freestone Capital Holdings, LLC had bought a total of 10,653 shares growing its position 2.2%. The value of the company’s investment in Viacom Inc Cl B decreased from $16,617,000 to $14,077,000 a change of 15.3% quarter to quarter.
As of quarter end Mitsubishi Ufj Trust & Banking Corp had acquired 16,322 shares growing its holdings by 2.3%. The value in dollars went from $23,601,000 to $20,027,000 a change of $3,574,000 since the last quarter. As of quarter end Gotham Asset Management, LLC had bought a total of 160,933 shares growing its stake by 25.0%. The value of the investment in VIAB increased from $21,618,000 to $22,408,000 increasing 3.7% for the reporting period.
Credit Suisse Group released a research note on VIAB stating a rating of “Buy” and establishing a price target of $38.00. On October 27, 2017 Cowen and Company reiterated a “Hold” rating on the company.
Deutsche Bank AG lowered the price target on October 23 changing the price objective from $0.00 to $25.00 with a rating of “Sell”. On October 20 analysts at Barclays PLC issued a report on VIAB and giving a rating of “Hold” and setting a price target of $32.00.
On October 18 BMO Capital Markets held the stock rating at “Hold” projecting a price of $30.00. October 13 investment analysts at Needham & Company LLC kept a “Hold” rating on the company.
The P/E ratio is 5.63 and the market cap of the company is 10.91B. In the latest earnings report the EPS was $4.66 with 352.83M shares now outstanding.
Viacom Inc., launched on September 22, 2005, 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. The Company operates through two segments: Media Networks and Filmed Entertainment. The Business’s Media Networks segment provides entertainment content and related branded products for advertisers, content distributors and retailers. The Business’s Filmed Entertainment segment produces, finances, acquires and distributes motion pictures, television programming and other entertainment content under the Paramount Pictures, Paramount Vantage, Paramount Classics, Paramount Animation, Insurge Pictures, Nickelodeon Movies, MTV Films and Paramount Television brands..