GAMMA Investing LLC Purchases 174,131 Shares of Paramount Global (NASDAQ:PARA)

GAMMA Investing LLC increased its position in Paramount Global (NASDAQ:PARA - Free Report) by 1,606.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,973 shares of the company's stock after purchasing an additional 174,131 shares during the period. GAMMA Investing LLC's holdings in Paramount Global were worth $2,212,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in Paramount Global in the 4th quarter valued at $28,000. Ossiam raised its position in Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after buying an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Paramount Global in the 4th quarter valued at $31,000. Finally, Rakuten Securities Inc. raised its position in 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 buying an additional 2,019 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PARA shares. Benchmark lowered their price target on 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 reissued a "neutral" rating and issued a $12.00 price target (down from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. Morgan Stanley lowered their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. UBS Group decreased their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Finally, Guggenheim reaffirmed a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. 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 data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $11.33.

Paramount Global Stock Down 0.4%

Paramount Global stock traded down $0.05 during mid-day trading on Friday, hitting $11.89. The company had a trading volume of 5,725,066 shares, compared to its average volume of 9,515,767. Paramount Global has a 12 month low of $9.54 and a 12 month high of $12.54. The stock's 50 day moving average price is $11.60 and its two-hundred day moving average price is $11.25. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $8.02 billion, a PE ratio of -1.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted 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 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 company's revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, sell-side analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

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