NEW YORK (TheStreet) --Former Viacom (VIAB) CEO Philippe Dauman has sold roughly 25%, or 235,000 shares of his stake in Viacom, equating to nearly $10.5 million in current pricing, CNBC's Susan Li reported on Friday afternoon's "Closing Bell."
"This doesn't appear to be a planned sale, Dauman will be stepping down from Viacom on September 13 and will take with him a $74 million severance package," Li said.
Shares of Viacom closed lower on Friday.
Separately, TheStreet Ratings rates Viacom as a "Hold" with a ratings score of a "C+." The primary factors that have impacted TheStreet Ratings are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, expanding profit margins and notable return on equity. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including generally higher debt management risk, weak operating cash flow and a generally disappointing performance in the stock itself.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You canview the full analysis from the report here: VIAB