Highbridge Capital Management LLC Makes New $19.50 Million Investment in ViacomCBS Inc. (NASDAQ:VIAC)

Highbridge Capital Management LLC bought a new position in shares of ViacomCBS Inc. (NASDAQ:VIAC) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 432,306 shares of the company’s stock, valued at approximately $19,497,000. Highbridge Capital Management LLC owned 0.07% of ViacomCBS as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. State of Michigan Retirement System boosted its position in ViacomCBS by 3.2% during the first quarter. State of Michigan Retirement System now owns 171,787 shares of the company’s stock worth $7,748,000 after purchasing an additional 5,400 shares during the period. Villere ST Denis J & Co. LLC acquired a new position in shares of ViacomCBS during the first quarter worth approximately $64,666,000. Financial Counselors Inc. lifted its holdings in shares of ViacomCBS by 0.5% during the fourth quarter. Financial Counselors Inc. now owns 376,191 shares of the company’s stock worth $14,017,000 after buying an additional 1,797 shares during the last quarter. Skylands Capital LLC acquired a new position in shares of ViacomCBS during the first quarter worth approximately $1,353,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of ViacomCBS by 47.8% during the fourth quarter. Teacher Retirement System of Texas now owns 55,360 shares of the company’s stock worth $2,063,000 after buying an additional 17,911 shares during the last quarter. 77.24% of the stock is owned by hedge funds and other institutional investors.

Shares of VIAC stock traded up $0.11 during trading hours on Friday, hitting $41.62. 252,997 shares of the company’s stock were exchanged, compared to its average volume of 31,864,006. The company has a 50-day moving average price of $40.98. The firm has a market cap of $26.90 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.76 and a beta of 1.65. ViacomCBS Inc. has a 52 week low of $21.67 and a 52 week high of $101.97. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.90.

ViacomCBS (NASDAQ:VIAC) last posted its quarterly earnings results on Thursday, May 6th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.30. The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.29 billion. ViacomCBS had a return on equity of 17.88% and a net margin of 10.56%. The firm’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, research analysts expect that ViacomCBS Inc. will post 3.9 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, June 14th. ViacomCBS’s payout ratio is 22.86%.

A number of research analysts have recently commented on the company. Wells Fargo & Company upgraded ViacomCBS from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $59.00 to $45.00 in a report on Friday, May 7th. Bank of America upgraded ViacomCBS from a “neutral” rating to a “buy” rating and upped their target price for the company from $38.00 to $53.00 in a research note on Thursday, May 20th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut their target price on ViacomCBS from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, May 21st. KeyCorp cut their target price on ViacomCBS from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Friday, May 7th. Finally, Evercore ISI upped their target price on ViacomCBS from $40.00 to $50.00 in a research note on Thursday, February 25th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $48.58.

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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