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National Bank of Canada FI Buys 278,029 Shares of Paramount Global (NASDAQ:PARA)

Paramount Global logo with Consumer Discretionary background

National Bank of Canada FI boosted its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 156.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 455,706 shares of the company's stock after buying an additional 278,029 shares during the period. National Bank of Canada FI owned approximately 0.07% of Paramount Global worth $5,450,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Slate Path Capital LP boosted its position in Paramount Global by 42.3% during the fourth quarter. Slate Path Capital LP now owns 12,586,000 shares of the company's stock worth $131,650,000 after purchasing an additional 3,741,000 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Paramount Global during the fourth quarter worth $21,229,000. SG Americas Securities LLC lifted its holdings in shares of Paramount Global by 435.8% during the first quarter. SG Americas Securities LLC now owns 1,428,254 shares of the company's stock worth $17,082,000 after buying an additional 1,161,696 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Paramount Global by 1.6% during the first quarter. Vanguard Group Inc. now owns 68,119,342 shares of the company's stock worth $814,707,000 after buying an additional 1,078,976 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in Paramount Global in the fourth quarter valued at about $11,096,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Price Performance

PARA stock remained flat at $11.04 during midday trading on Friday. The firm has a market capitalization of $7.44 billion, a PE ratio of -367.88, a P/E/G ratio of 3.07 and a beta of 1.17. The stock has a 50 day moving average price of $12.37 and a 200-day moving average price of $11.77. Paramount Global has a twelve month low of $9.95 and a twelve month high of $13.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.09. The company had revenue of $6.85 billion for the quarter, compared to analysts' expectations of $6.88 billion. Paramount Global had a positive return on equity of 4.51% and a negative net margin of 0.05%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global's payout ratio is -666.67%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PARA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research report on Tuesday, July 22nd. Citigroup reissued a "neutral" rating and set a $12.00 target price (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Seaport Res Ptn cut shares of Paramount Global from a "hold" rating to a "strong sell" rating in a research report on Monday, July 28th. Benchmark decreased their target price on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $11.70.

View Our Latest Research Report on Paramount Global

About Paramount Global

(Free Report)

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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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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