Forget Netflix: 5 Better Streaming Stocks to Buy Now

4. ViacomCBS Inc. (NASDAQ: VIAC)

Number of Hedge Fund Holders: 89 

ViacomCBS Inc. (NASDAQ: VIAC) is placed fourth on our list of 10 streaming stocks to buy now. The company operates as a media and entertainment firm. It is based in New York. The firm owns and runs a number of television networks and has recently launched the Peacock streaming service for internet users. The platform has crossed a user base of 50 million, out of which 10 million are premium subscribers. The firm recently beat market expectations on revenue for the second quarter. 

On May 20, investment advisory Bank of America upgraded ViacomCBS Inc. (NASDAQ: VIAC) stock to Buy from Underperform and raised the price target to $53 from $38, noting that there might be media consolidation in the coming months as streaming players seek increased scale.

At the end of the first quarter of 2021, 89 hedge funds in the database of Insider Monkey held stakes worth $2.3 billion in ViacomCBS Inc. (NASDAQ: VIAC), up from 44 the preceding quarter worth $919 million.