IFM Investors Pty Ltd Makes New $1.26 Million Investment in Paramount Global (NASDAQ:PARA)

IFM Investors Pty Ltd purchased a new stake in Paramount Global (NASDAQ:PARA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 105,476 shares of the company's stock, valued at approximately $1,261,000.

A number of other large investors have also recently modified their holdings of PARA. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Paramount Global by 8.0% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,259 shares of the company's stock worth $147,000 after buying an additional 907 shares during 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. Bell Investment Advisors Inc lifted its holdings in shares of Paramount Global by 100.3% in the 1st quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company's stock worth $27,000 after acquiring an additional 1,123 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Paramount Global by 2.3% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 51,913 shares of the company's stock valued at $621,000 after purchasing an additional 1,143 shares in the last quarter. Finally, SOL Capital Management CO boosted its stake in shares of Paramount Global by 0.7% in the 1st 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. Institutional investors own 73.00% of the company's stock.

Paramount Global Trading Up 1.0%

Shares of Paramount Global stock traded up $0.13 during midday trading on Thursday, reaching $12.74. 2,227,586 shares of the company's stock traded hands, compared to its average volume of 8,876,635. The stock has a 50 day moving average of $12.09 and a 200-day moving average of $11.44. Paramount Global has a 12 month low of $9.95 and a 12 month high of $13.29. The company has a market cap of $8.59 billion, a PE ratio of -1.55, a price-to-earnings-growth ratio of 3.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.18 and a current ratio of 1.29.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same period in the prior year, the business earned $0.62 EPS. The company's revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.57%. Paramount Global's payout ratio is -2.43%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. 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 note on Wednesday, April 2nd. Morgan Stanley lowered their target price 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. Guggenheim restated a "buy" rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, June 26th. JPMorgan Chase & Co. decreased their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 21st. Finally, Benchmark dropped their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Paramount Global currently has an average rating of "Hold" and a consensus target price of $11.67.

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.