Universal Beteiligungs und Servicegesellschaft mbH Invests $911,000 in Paramount Global (NASDAQ:PARA)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 87,075 shares of the company's stock, valued at approximately $911,000.

Several other hedge funds have also recently added to or reduced their stakes in 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 buying an additional 1,395 shares in the last quarter. Ossiam raised its stake in shares of Paramount Global by 57.2% during the fourth 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. bought a new stake in shares of Paramount Global in the 4th quarter worth approximately $31,000. Rakuten Securities Inc. boosted 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 purchasing an additional 2,019 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Paramount Global during the 4th quarter valued at $35,000. Institutional investors own 73.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PARA. Benchmark cut 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. Citigroup restated a "neutral" rating and set a $12.00 target price (down from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut 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 Wednesday, May 21st. Finally, UBS Group decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Paramount Global presently has a consensus rating of "Hold" and an average price target of $11.33.

Paramount Global Trading Down 0.3%

Shares of NASDAQ PARA traded down $0.03 during midday trading on Thursday, hitting $11.90. 6,600,375 shares of the company traded hands, compared to its average volume of 9,877,792. Paramount Global has a 12-month low of $9.54 and a 12-month high of $12.54. The firm has a market cap of $8.02 billion, a P/E ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.25. The stock has a 50-day moving average price of $11.51 and a 200 day moving average price of $11.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

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

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. Paramount Global's dividend payout ratio (DPR) is currently -2.43%.

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.