Exchange Traded Concepts LLC Has $208,000 Stock Holdings in Paramount Global (NASDAQ:PARA)

Exchange Traded Concepts LLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 84.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,386 shares of the company's stock after selling 93,357 shares during the quarter. Exchange Traded Concepts LLC's holdings in Paramount Global were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PARA. Allworth Financial LP boosted its stake 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 during the period. Ieq Capital LLC purchased a new position in Paramount Global in the fourth quarter valued at about $111,000. Handelsbanken Fonder AB grew its stake in Paramount Global by 7.8% in the fourth quarter. Handelsbanken Fonder AB now owns 142,700 shares of the company's stock valued at $1,493,000 after purchasing an additional 10,300 shares in the last quarter. Allianz Asset Management GmbH increased its position in Paramount Global by 48.1% in the 4th quarter. Allianz Asset Management GmbH now owns 2,425,849 shares of the company's stock worth $25,374,000 after purchasing an additional 787,516 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Paramount Global during the 4th quarter worth about $1,712,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research reports. Morgan Stanley dropped their price objective on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Benchmark decreased their target price 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. JPMorgan Chase & Co. cut their price target 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. Citigroup reaffirmed a "neutral" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $11.33.

Paramount Global Stock Performance

NASDAQ PARA opened at $12.32 on Tuesday. The company's fifty day moving average is $11.75 and its two-hundred day moving average is $11.31. Paramount Global has a 52-week low of $9.83 and a 52-week high of $12.54. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.29 and a quick ratio of 1.18. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of -1.50, a P/E/G ratio of 3.73 and a beta of 1.19.

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 (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The firm had revenue of $7.19 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The company's quarterly revenue was down 6.4% compared to the same quarter last year. Equities research analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.62%. Paramount Global's 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.

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