Viacom INC New (VIAB) Stake Held by Clearline Capital Lp

Viacom’s Paramount returns to profitability

(NASDAQ:VIAB) earned "Hold" rating by BMO Capital Markets.

Viacom reported largely positive second-quarter results, with total revenue slipping 3% to $3.15 billion.

"At Paramount Pictures, turnaround efforts have firmly taken hold as the studio improved margins and returned to profitability". The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.04 billion. Adjusted operating income in the segment was $9 million, compared to a loss of $66 million in the prior-year quarter.

Shares of NASDAQ VIA traded up $1.30 during midday trading on Wednesday, hitting $36.95. Viacom has a 1-year low of $22.13 and a 1-year high of $44.12. $12.68 billion is the market cap of Viacom Inc New. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.41 and a quick ratio of 1.14. Stockholders of record on Thursday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Wednesday, March 14th. Viacom's payout ratio is 21.22%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Finally, James Investment Research Inc. grew its stake in shares of Viacom by 137.6% during the 4th quarter. Standard Life Aberdeen plc lifted its stake in shares of Viacom by 1.5% during the 4th quarter.


Viacom, which is exploring a merger with CBS, said total domestic affiliate revenue, the fees it collects from USA cable and satellite operators and online distributors, fell 4 percent to $934 million in the second quarter. California Public Employees Retirement System now owns 7,283 shares of the company's stock worth $254,000 after purchasing an additional 1,425 shares during the period. Deutsche Bank AG boosted its stake in Viacom by 58.3% in the 4th quarter. Oldfield Partners LLP now owns 6,722,920 shares of the company's stock valued at $207,134,000 after purchasing an additional 1,368,700 shares during the last quarter.

Clearline Capital Lp has cut its stake in and also reduced its holding in by shares in the quarter, for a total of shares. Public Employees Retirement Association of Colorado now owns 65,795 shares of the company's stock worth $2,027,000 after purchasing an additional 2,240 shares during the period. Rosenblatt Securities reiterated a "sell" rating and set a $45.00 price target on shares of Viacom in a research note on Tuesday, January 16th. (NASDAQ:VIAB) has "Buy" rating given by Needham. They noted that the move was a valuation call. The company rating was upgraded by Macquarie Research on Wednesday, February 28. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company's stock. The average target $35 is 13.20% above the last ($30.92) price.

COPYRIGHT VIOLATION NOTICE: This news story was published by Week Herald and is the sole property of of Week Herald.

Viacom stock opened at $31.30 on Wednesday.

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