Paramount Global (NASDAQ:PARA) is GSA Capital Partners LLP's 6th Largest Position

Key Points

• GSA Capital Partners LLP increased its stake in Paramount Global by 12.3% in the first quarter, making it the firm's 6th largest position in their portfolio, valued at approximately $3.46 million.
• Paramount Global reported a quarterly earnings of $0.29 per share, surpassing analysts' expectations, despite a 6.4% decline in revenue compared to the previous year.
• Analysts have mixed opinions on Paramount Global, with a consensus rating of "Hold" and a target price averaging $11.60, while five analysts have issued sell ratings.

GSA Capital Partners LLP grew its position in Paramount Global (NASDAQ:PARA - Free Report) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,932 shares of the company's stock after buying an additional 31,674 shares during the quarter. Paramount Global accounts for 0.3% of GSA Capital Partners LLP's holdings, making the stock its 6th largest holding. GSA Capital Partners LLP's holdings in Paramount Global were worth $3,456,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC purchased a new position in Paramount Global in the fourth quarter valued at $28,000. Ossiam boosted its holdings in Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after purchasing an additional 1,022 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Paramount Global in the fourth quarter valued at $35,000. Resona Asset Management Co. Ltd. purchased a new position in Paramount Global in the fourth quarter valued at $36,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Paramount Global in the fourth quarter valued at $45,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Performance

Shares of Paramount Global stock traded up $0.43 on Friday, hitting $13.00. The stock had a trading volume of 8,217,665 shares, compared to its average volume of 8,973,583. Paramount Global has a 52-week low of $9.95 and a 52-week high of $13.59. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of -1.58, a P/E/G ratio of 4.08 and a beta of 1.19. The company's 50 day moving average price is $12.50 and its 200 day moving average price is $11.71.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.09. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The business had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.88 billion. During the same period in the previous year, the business earned $0.54 EPS. The business's quarterly revenue was up .5% on a year-over-year basis. On average, research analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid 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 1.5%. Paramount Global's dividend payout ratio is currently -2.43%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PARA shares. Wall Street Zen initiated coverage on Paramount Global in a research report on Saturday, May 17th. They set a "hold" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a report on Tuesday, July 22nd. UBS Group lowered their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Seaport Res Ptn downgraded Paramount Global from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Loop Capital upped their price target on Paramount Global from $10.00 to $11.00 and gave the company a "sell" rating in a report on Friday, July 25th. Seven analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Paramount Global has a consensus rating of "Hold" and a consensus price target of $11.70.

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.