Algert Global LLC purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 95,750 shares of the company's stock, valued at approximately $1,002,000.
Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. Ossiam increased its holdings in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after purchasing an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in Paramount Global during the 4th quarter worth about $31,000. Rakuten Securities Inc. increased its holdings in Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after purchasing an additional 2,019 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new stake in Paramount Global during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 73.00% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. StockNews.com started coverage on shares of Paramount Global in a report on Friday, May 9th. They issued a "hold" rating for the company. UBS Group decreased their price objective on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Paramount Global currently has a consensus rating of "Hold" and an average target price of $11.58.
Read Our Latest Report on Paramount Global
Paramount Global Stock Performance
PARA stock traded down $0.18 on Wednesday, hitting $11.81. The company's stock had a trading volume of 7,454,099 shares, compared to its average volume of 10,325,364. The firm has a 50 day moving average of $11.45 and a two-hundred day moving average of $11.09. Paramount Global has a 1 year low of $9.54 and a 1 year high of $13.05. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of -1.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. Equities analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.
Paramount Global Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.69%. Paramount Global's dividend payout ratio is currently -2.43%.
Paramount Global Company Profile
(
Free Report)
Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.
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