153,000 Shares in Paramount Global (NASDAQ:PARA) Purchased by Bayesian Capital Management LP

Bayesian Capital Management LP acquired a new position in shares of Paramount Global (NASDAQ:PARA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 153,000 shares of the company's stock, valued at approximately $1,600,000.

A number of other institutional investors have also recently bought and sold shares of PARA. Allworth Financial LP raised its holdings in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. Ossiam boosted its stake in shares of Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after acquiring an additional 1,022 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global during the 4th quarter valued at about $31,000. Rakuten Securities Inc. raised its stake in shares of Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock valued at $32,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Paramount Global in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 73.00% of the company's stock.

Paramount Global Stock Performance

Shares of NASDAQ PARA traded up $0.25 during trading hours on Friday, reaching $11.93. The stock had a trading volume of 10,208,204 shares, compared to its average volume of 10,435,123. The company has a market cap of $8.00 billion, a price-to-earnings ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.25. Paramount Global has a twelve month low of $9.54 and a twelve month high of $13.40. The business's fifty day moving average is $11.42 and its two-hundred day moving average is $11.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $7.19 billion for the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, research analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced 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 was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. Paramount Global's payout ratio is presently -2.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Benchmark reduced their price objective on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday. Morgan Stanley dropped their target price on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Tuesday. Guggenheim restated a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, UBS Group cut their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Paramount Global presently has an average rating of "Hold" and an average price target of $11.58.

Paramount Global Company 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.