Time to Sell CBS Corporation After Today’s Option Traders Bearish Bets?

 Time to Sell CBS Corporation After Today's Option Traders Bearish Bets?

In today’s session CBS Corporation (CBS) recorded an unusually high (2,210) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious CBS decrease. With 2,210 contracts traded and 11514 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: CBS161118P00055000 closed last at: $1.3 or 3% down. About 1.70M shares traded hands. CBS Corporation (NYSE:CBS) has risen 5.07% since April 5, 2016 and is uptrending. It has outperformed by 3.11% the S&P500.

CBS Corporation (NYSE:CBS) Ratings Coverage

Out of 20 analysts covering CBS Corp (NYSE:CBS), 16 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 80% are positive. CBS Corp has been the topic of 44 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Telsey Advisory Group downgraded CBS Corporation (NYSE:CBS) rating on Thursday, September 22. Telsey Advisory Group has “Market Perform” rating and $57 price target. Credit Suisse maintained the shares of CBS in a report on Friday, August 21 with “Outperform” rating. RBC Capital Markets maintained CBS Corporation (NYSE:CBS) on Tuesday, October 13 with “Top Pick” rating. The rating was maintained by Deutsche Bank on Friday, March 18 with “Buy”. The stock of CBS Corporation (NYSE:CBS) has “Outperform” rating given on Monday, August 10 by Barrington Research. The stock of CBS Corporation (NYSE:CBS) has “Buy” rating given on Tuesday, October 6 by Topeka Capital Markets. Wedbush maintained the shares of CBS in a report on Friday, February 12 with “Outperform” rating. UBS downgraded CBS Corporation (NYSE:CBS) on Friday, July 15 to “Sell” rating. The stock of CBS Corporation (NYSE:CBS) earned “Buy” rating by Topeka Capital Markets on Wednesday, November 4. As per Wednesday, March 16, the company rating was maintained by Stifel Nicolaus.

According to Zacks Investment Research, “CBS Corporation is a mass media company that creates and distributes industry-leading content to audiences worldwide. CBS has businesses with origins that date back to the beginnings of broadcast as well as new ventures that operate on media’s leading edge. It owns the most-watched television network in the U.S. and one of the world’s largest entertainment libraries. CBS’s operations span nearly every field of media and entertainment, including cable, publishing, radio, TV, film, outdoor advertising, and interactive and socially responsible media. Its businesses include CBS Television Network, The CW (owned by CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For more information, go to www.cbscorporation.com.”

Insitutional Activity: The institutional sentiment increased to 0.89 in 2016 Q2. Its up 0.02, from 0.87 in 2016Q1. The ratio is positive, as 50 funds sold all CBS Corporation shares owned while 234 reduced positions. 52 funds bought stakes while 201 increased positions. They now own 282.48 million shares or 8.70% less from 309.41 million shares in 2016Q1.
Calvert Inv Mgmt has 24,433 shares for 0.07% of their US portfolio. South Dakota Invest Council owns 237,140 shares or 0.28% of their US portfolio. First Republic Management owns 51,785 shares or 0.03% of their US portfolio. Millennium Ltd Liability holds 0.22% of its portfolio in CBS Corporation (NYSE:CBS) for 1.78 million shares. Barclays Public Ltd Llc owns 399,355 shares or 0.03% of their US portfolio. Cleararc last reported 10,102 shares in the company. Royal London Asset Limited has invested 0.19% of its portfolio in CBS Corporation (NYSE:CBS). Waddell And Reed holds 0.04% of its portfolio in CBS Corporation (NYSE:CBS) for 320,000 shares. Etrade Lc reported 10,570 shares or 0.03% of all its holdings. Tci Wealth Advisors Inc holds 0.1% or 3,322 shares in its portfolio. Lmr Prtnrs Ltd Liability Partnership holds 0.12% or 14,430 shares in its portfolio. First Quadrant L P Ca accumulated 0.55% or 458,186 shares. Perkins Invest Mgmt Limited Liability Company reported 23,311 shares or 0.02% of all its holdings. Cibc Ww Corp accumulated 1.87% or 1.33M shares. Canada Pension Plan Invest Board holds 0.13% or 601,895 shares in its portfolio.

Insider Transactions: Since May 18, 2016, the stock had 0 buys, and 10 selling transactions for $5.50 million net activity. Shares for $837,927 were sold by Ambrosio Anthony G. On Friday, August 19 Goldberg Leonard sold $87,909 worth of the stock or 1,698 shares. Another trade for 5,093 shares valued at $266,151 was sold by CALIFANO JOSEPH A.

CBS Corporation is a mass media company. The company has a market cap of $25.03 billion. The Company’s divisions include Entertainment, Cable Networks, Publishing and Local Broadcasting. It has a 17.15 P/E ratio. The Company’s Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group ; CBS Interactive, and CBS Films.

CBS Company Profile

CBS Corporation, incorporated on November 10, 1986, is a mass media company. The Firm operates through divisions, including Entertainment, Cable Networks, Publishing and Local Broadcasting. The Firm operates businesses, which span the media and entertainment industries, including the CBS Television Network, cable networks, content production and distribution, television and radio stations, Internet businesses, and consumer publishing.

Another recent and important CBS Corporation (NYSE:CBS) news was published by Prnewswire.com which published an article titled: “CBS Corporation Reports Third Quarter 2016 Results” on November 03, 2016.

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