Cantor Fitzgerald Investment Advisors L.P. Cuts Position in Paramount Global (NASDAQ:PARA)

Cantor Fitzgerald Investment Advisors L.P. trimmed its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 51.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,532 shares of the company's stock after selling 72,890 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Paramount Global were worth $808,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in shares of Paramount Global by 140.1% in the fourth 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 during the period. Mattson Financial Services LLC purchased a new stake in Paramount Global during the fourth quarter worth $28,000. Ossiam boosted its position in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after acquiring an additional 1,022 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global in the 4th quarter worth $31,000. Finally, Rakuten Securities Inc. lifted its stake in shares of Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after purchasing an additional 2,019 shares during the last quarter. Institutional investors own 73.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PARA. Citigroup reiterated a "neutral" rating and set a $12.00 price objective (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Wall Street Zen started coverage on Paramount Global in a research report on Saturday, May 17th. They set a "hold" rating on the stock. Benchmark decreased their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. UBS Group dropped their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Finally, Morgan Stanley decreased their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. Six equities 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $11.33.

Paramount Global Stock Up 0.6%

Paramount Global stock opened at $12.04 on Friday. The stock has a 50 day moving average of $11.69 and a two-hundred day moving average of $11.28. Paramount Global has a twelve month low of $9.59 and a twelve month high of $12.54. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of -1.46, a PEG ratio of 3.64 and a beta of 1.19. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84.

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 firm had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The company's revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. As a group, research 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 will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, June 16th. Paramount Global's dividend payout ratio is presently -2.43%.

About Paramount Global

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.

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