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

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc raised its position in shares of Paramount Global by 100.3% in the first quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company's stock valued at $27,000 after purchasing an additional 1,123 shares during the period. Mattson Financial Services LLC bought a new stake in shares of Paramount Global during the 4th quarter worth about $28,000. Ossiam raised its holdings 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 acquiring an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in Paramount Global during the fourth quarter worth approximately $31,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after acquiring an additional 2,019 shares during the period. 73.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PARA has been the topic of a number of recent research reports. Wall Street Zen began coverage on Paramount Global in a research note on Saturday, May 17th. They set a "hold" rating on the stock. Citigroup reiterated a "neutral" rating and set a $12.00 price objective (down previously from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. JPMorgan Chase & Co. reduced 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 report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a research report on Wednesday, April 2nd. Finally, Guggenheim reissued a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, June 26th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.50.

Paramount Global Price Performance

Shares of PARA stock traded down $0.02 on Wednesday, hitting $12.61. 7,614,219 shares of the company's stock were exchanged, compared to its average volume of 8,901,832. The company has a 50 day moving average of $12.09 and a 200 day moving average of $11.44. The stock has a market cap of $8.50 billion, a P/E ratio of -1.53, 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 current ratio of 1.29 and a quick ratio of 1.18. Paramount Global has a 12 month low of $9.95 and a 12 month high of $13.29.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $7.19 billion for the quarter, compared to analysts' expectations of $7.14 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company's revenue was down 6.4% on a year-over-year basis. On average, equities research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was 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.