Viacom’s Class B shares saw its “market perform” rating reaffirmed by a Wall Street investment house on Monday (4/10), while its price target was boosted by three dollars.
In a research report, FBR & Co., founded in 1989 by Emanuel J. Friedman, Eric F. Billings, and W. Russell Ramsey, upped Viacom’s commonly traded shares upped from $45 to $48.
The higher price target is good news for shareholders: Viacom has an average rating of “Hold” and a consensus price target of $44.23, Chaffey Breeze notes. Three investment analysts have rated the stock with a sell rating, 23 have issued a hold rating and 10 have given a buy rating to the company’s stock.
Of the hedge funds and institutional investors with Viacom-B holdings, Capital World Investors grew its position in shares of Viacom by 47.4% in Q3.
Capital World Investors now owns 24,658,133 shares of VIA-B, valued at $939.48 million, after buying an additional 7,928,690 shares during the period.
This means the Redstone family has just a little bit company with respect to influence.
In other Viacom news, Viacom Media Networks EVP/Chief Research Officer Colleen Fahey Rush has been promoted and takes on the new role of EVP/Insights & Audience Science and Chief Research Officer.
In addition to continuing to lead the central Research & Analytics function, she will assume oversight of the dedicated research teams for MTV, VH1, Comedy Central, BET, Paramount Network, TV Land and CMT, as well as Viacom’s Audience Science team, which creates advanced digital products and solutions. The Nickelodeon Research team will continue to have a dotted line report to Rush.