Crestline Management LP Acquires New Holdings in CBS Co. (CBS)

Crestline Management LP purchased a new stake in CBS Co. (NYSE:CBS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the media conglomerate’s stock, valued at approximately $1,475,000.

A number of other large investors have also recently made changes to their positions in CBS. Avestar Capital LLC bought a new stake in shares of CBS during the 4th quarter valued at about $119,000. Financial Gravity Companies Inc. bought a new stake in CBS during the fourth quarter worth about $143,000. Advisors Preferred LLC bought a new position in shares of CBS in the fourth quarter worth approximately $213,000. Lombard Odier Asset Management Europe Ltd bought a new position in shares of CBS in the fourth quarter worth approximately $227,000. Finally, Scotia Capital Inc. bought a new position in shares of CBS in the fourth quarter worth approximately $235,000. 77.95% of the stock is owned by hedge funds and other institutional investors.

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NYSE CBS traded down $0.04 on Friday, hitting $52.84. 3,243,094 shares of the company’s stock traded hands, compared to its average volume of 4,288,155. The company has a current ratio of 1.58, a quick ratio of 1.12 and a debt-to-equity ratio of 4.78. The stock has a market cap of $20,586.46, a price-to-earnings ratio of 12.61, a PEG ratio of 0.78 and a beta of 1.47. CBS Co. has a 1-year low of $49.24 and a 1-year high of $69.31.

CBS (NYSE:CBS) last posted its earnings results on Thursday, February 15th. The media conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.71 billion. CBS had a net margin of 2.61% and a return on equity of 67.23%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 EPS. analysts forecast that CBS Co. will post 5.21 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Friday, March 9th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, March 8th. CBS’s payout ratio is presently 17.18%.

CBS has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and issued a $78.00 target price on shares of CBS in a research note on Tuesday, January 16th. Piper Jaffray set a $70.00 target price on shares of CBS and gave the company a “buy” rating in a report on Wednesday, January 3rd. B. Riley dropped their price target on shares of CBS from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Royal Bank of Canada set a $71.00 price target on shares of CBS and gave the stock a “buy” rating in a research report on Saturday, February 17th. Finally, Citigroup dropped their target price on shares of CBS from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. CBS currently has a consensus rating of “Buy” and a consensus target price of $69.95.

In other news, CEO Leslie Moonves sold 85,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $59.07, for a total transaction of $5,020,950.00. Following the transaction, the chief executive officer now owns 971,448 shares of the company’s stock, valued at approximately $57,383,433.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Joseph R. Ianniello sold 2,400 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $60.13, for a total transaction of $144,312.00. Following the completion of the transaction, the chief operating officer now directly owns 320,723 shares in the company, valued at approximately $19,285,073.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,284 shares of company stock worth $17,069,668. 1.67% of the stock is currently owned by corporate insiders.

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CBS Profile

CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

Institutional Ownership by Quarter for CBS (NYSE:CBS)

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