IFM Investors Pty Ltd Purchases Shares of 105,476 Paramount Global (NASDAQ:PARA)

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

Several other hedge funds also recently made changes to their positions in the business. Teacher Retirement System of Texas acquired a new stake in Paramount Global in the first quarter valued at approximately $1,040,000. DAVENPORT & Co LLC bought a new position in Paramount Global during the first quarter worth $407,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Paramount Global by 8.0% during the first 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. Hoertkorn Richard Charles raised its stake in Paramount Global by 10.2% during the first quarter. Hoertkorn Richard Charles now owns 252,485 shares of the company's stock worth $3,020,000 after buying an additional 23,419 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Paramount Global by 4.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 33,372 shares of the company's stock valued at $391,000 after purchasing an additional 1,359 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Trading Up 0.8%

NASDAQ PARA opened at $12.63 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84. Paramount Global has a 12 month low of $9.95 and a 12 month high of $13.29. The company's 50-day moving average price is $12.07 and its 200-day moving average price is $11.43. The stock has a market cap of $8.51 billion, a PE ratio of -1.53, a PEG ratio of 3.80 and a beta of 1.19.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating 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 firm posted $0.62 earnings per share. The company's quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.58%. Paramount Global's dividend payout ratio is currently -2.43%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PARA shares. Guggenheim reiterated a "buy" rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, June 26th. Morgan Stanley dropped their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 21st. UBS Group decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Finally, Citigroup reissued a "neutral" rating and issued a $12.00 price target (down previously from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Paramount Global has a consensus rating of "Hold" and an average price target of $11.50.

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.

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