Credit Industriel ET Commercial Acquires New Position in Paramount Global (NASDAQ:PARA)

Credit Industriel ET Commercial bought a new position in Paramount Global (NASDAQ:PARA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $1,046,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock valued at $701,242,000 after acquiring an additional 761,561 shares during the last quarter. Lingotto Investment Management LLP grew its stake in shares of Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after buying an additional 1,593,579 shares in the last quarter. Invesco Ltd. increased its stake in shares of Paramount Global by 5.7% during the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock worth $215,413,000 after purchasing an additional 1,119,314 shares during the last quarter. Geode Capital Management LLC raised 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 valued at $162,731,000 after buying an additional 724,565 shares in the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new stake in shares of Paramount Global in the fourth quarter worth about $146,230,000. Institutional investors own 73.00% of the company's stock.

Paramount Global Price Performance

Shares of PARA stock traded down $0.01 during trading hours on Tuesday, hitting $11.69. 2,982,246 shares of the company's stock were exchanged, compared to its average volume of 11,174,530. The stock's 50-day moving average is $11.40 and its 200-day moving average is $11.00. 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 has a 52 week low of $9.54 and a 52 week high of $14.54. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced 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 company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. As a group, research analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group reduced their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Tuesday, February 4th. Benchmark reiterated a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a report on Wednesday, April 2nd. Finally, Guggenheim reiterated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Seven equities research 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $11.92.

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.