Alpine Global Management LLC Decreases Holdings in Paramount Global (NASDAQ:PARA)

Alpine Global Management LLC lowered its position in Paramount Global (NASDAQ:PARA - Free Report) by 51.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,857 shares of the company's stock after selling 164,883 shares during the period. Alpine Global Management LLC's holdings in Paramount Global were worth $1,599,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock worth $701,242,000 after purchasing an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP grew its holdings in shares of Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after acquiring an additional 1,593,579 shares in the last quarter. Invesco Ltd. increased its position in shares of Paramount Global by 5.7% during the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock valued at $215,413,000 after acquiring an additional 1,119,314 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company's stock worth $162,731,000 after acquiring an additional 724,565 shares during the period. Finally, Contrarius Group Holdings Ltd purchased a new position in Paramount Global in the fourth quarter worth $146,230,000. 73.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PARA has been the subject of several research analyst reports. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a report on Wednesday, April 2nd. Guggenheim reiterated a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, StockNews.com initiated coverage on Paramount Global in a research note on Wednesday. They issued a "hold" rating on the stock. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $11.92.

Paramount Global Price Performance

PARA stock traded up $0.30 during mid-day trading on Friday, reaching $11.73. 9,440,814 shares of the company traded hands, compared to its average volume of 11,226,951. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The company has a market capitalization of $7.82 billion, a P/E ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a fifty day moving average price of $11.39 and a 200-day moving average price of $10.98.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio is -2.15%.

Paramount Global Profile

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.