Brevan Howard Capital Management LP Trims Stock Holdings in Paramount Global (NASDAQ:PARA)

Brevan Howard Capital Management LP lessened its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 71.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 130,779 shares of the company's stock after selling 322,544 shares during the quarter. Brevan Howard Capital Management LP's holdings in Paramount Global were worth $1,368,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PARA. Ossiam raised its holdings in shares of Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after buying an additional 1,022 shares during the period. Allworth Financial LP increased its stake in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of Paramount Global by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company's stock worth $2,722,000 after purchasing an additional 1,640 shares in the last quarter. Norinchukin Bank The boosted its stake in shares of Paramount Global by 6.8% in the fourth quarter. Norinchukin Bank The now owns 25,793 shares of the company's stock valued at $270,000 after purchasing an additional 1,640 shares during the period. Finally, Insight Inv LLC grew its holdings in shares of Paramount Global by 9.8% in the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company's stock valued at $215,000 after purchasing an additional 1,825 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Performance

NASDAQ PARA traded up $0.26 on Friday, reaching $11.94. The stock had a trading volume of 10,208,614 shares, compared to its average volume of 10,438,520. Paramount Global has a 12-month low of $9.54 and a 12-month high of $13.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market cap of $8.01 billion, a P/E ratio of -1.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The business's 50-day moving average price is $11.43 and its 200 day moving average price is $11.07.

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

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.68%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is -2.43%.

Analyst Ratings Changes

Several brokerages have commented on PARA. Benchmark decreased their price target on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. 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 note on Wednesday, April 2nd. Morgan Stanley reduced their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. StockNews.com started coverage on shares of Paramount Global in a research note on Friday. They set a "hold" rating on the stock. Finally, UBS Group decreased their price target 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. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.58.

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.