IFM Investors Pty Ltd Takes $1.26 Million Position in Paramount Global (NASDAQ:PARA)

IFM Investors Pty Ltd bought a new position in Paramount Global (NASDAQ:PARA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 105,476 shares of the company's stock, valued at approximately $1,261,000.

Several other large investors have also added to or reduced their stakes in PARA. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Paramount Global by 9.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,070 shares of the company's stock valued at $23,514,000 after acquiring an additional 169,537 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Paramount Global by 31.6% during the 1st quarter. Woodline Partners LP now owns 1,395,942 shares of the company's stock valued at $16,695,000 after buying an additional 335,132 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of Paramount Global during the 1st quarter valued at about $323,000. United Services Automobile Association purchased a new position in shares of Paramount Global during the 1st quarter valued at about $142,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Paramount Global during the 1st quarter valued at about $15,626,000. Institutional investors own 73.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a research note on Wednesday, April 2nd. Benchmark cut their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. UBS Group dropped their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $12.00 price target (down from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Paramount Global has a consensus rating of "Hold" and an average price target of $11.67.

Paramount Global Stock Performance

Shares of NASDAQ PARA traded down $0.02 during trading on Friday, hitting $12.75. The company had a trading volume of 4,082,526 shares, compared to its average volume of 8,839,390. The stock has a 50 day simple moving average of $12.14 and a 200 day simple moving average of $11.47. 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 has a 12 month low of $9.95 and a 12 month high of $13.29. The firm has a market capitalization of $8.60 billion, a P/E ratio of -1.55, a price-to-earnings-growth ratio of 3.87 and a beta of 1.19.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted 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 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 the consensus estimate of $7.14 billion. During the same quarter last year, the company earned $0.62 earnings per share. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was 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.