Csenge Advisory Group Sells 19,405 Shares of Paramount Global (NASDAQ:PARA)

Csenge Advisory Group trimmed its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,302 shares of the company's stock after selling 19,405 shares during the period. Csenge Advisory Group's holdings in Paramount Global were worth $1,097,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Paramount Global by 8.0% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,259 shares of the company's stock worth $147,000 after purchasing an additional 907 shares during the period. Ossiam raised its stake in Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after buying an additional 1,022 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in Paramount Global by 2.3% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 51,913 shares of the company's stock worth $621,000 after buying an additional 1,143 shares in the last quarter. SOL Capital Management CO increased its stake in shares of Paramount Global by 0.7% during the first quarter. SOL Capital Management CO now owns 181,874 shares of the company's stock valued at $2,175,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Paramount Global by 4.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 33,372 shares of the company's stock valued at $391,000 after purchasing an additional 1,359 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PARA. JPMorgan Chase & Co. decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research report on Wednesday, April 2nd. Benchmark reduced 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. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Tuesday. Finally, Guggenheim reaffirmed a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $11.67.

Paramount Global Price Performance

Shares of PARA traded up $0.07 during trading hours on Thursday, reaching $13.27. 1,345,000 shares of the stock traded hands, compared to its average volume of 8,334,745. The company has a market cap of $8.94 billion, a P/E ratio of -1.61, a price-to-earnings-growth ratio of 3.97 and a beta of 1.19. Paramount Global has a 52-week low of $9.95 and a 52-week high of $13.29. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84. The company's 50-day moving average price is $12.32 and its two-hundred day moving average price is $11.60.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $7.19 billion for the quarter, compared to analysts' expectations of $7.14 billion. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The business's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. On average, analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global's dividend payout ratio is -2.43%.

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.