SG Americas Securities LLC Buys 1,161,696 Shares of Paramount Global (NASDAQ:PARA)

SG Americas Securities LLC boosted its position in Paramount Global (NASDAQ:PARA - Free Report) by 435.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428,254 shares of the company's stock after buying an additional 1,161,696 shares during the quarter. SG Americas Securities LLC owned approximately 0.21% of Paramount Global worth $17,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Paramount Global by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock valued at $80,993,000 after purchasing an additional 348,298 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Paramount Global by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock valued at $47,973,000 after purchasing an additional 908,515 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Paramount Global during the fourth quarter valued at approximately $5,457,000. Amundi boosted its stake in shares of Paramount Global by 10.1% during the fourth quarter. Amundi now owns 1,655,784 shares of the company's stock valued at $17,618,000 after purchasing an additional 152,026 shares during the period. Finally, Lingotto Investment Management LLP boosted its stake in shares of Paramount Global by 3.7% during the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after purchasing an additional 1,593,579 shares during the period. Hedge funds and other institutional investors own 73.00% of the company's stock.

Paramount Global Stock Down 0.4%

PARA traded down $0.05 during trading on Friday, reaching $11.89. The stock had a trading volume of 5,725,066 shares, compared to its average volume of 9,493,070. The stock's 50 day moving average is $11.60 and its two-hundred day moving average is $11.25. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.19. Paramount Global has a one year low of $9.54 and a one year high of $12.54.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, analysts expect 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 will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Paramount Global's payout ratio is presently -2.43%.

Wall Street Analyst Weigh In

PARA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research note on Wednesday, April 2nd. Morgan Stanley dropped their price objective on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. Citigroup reissued a "neutral" rating and set a $12.00 price objective (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. UBS Group dropped their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $11.33.

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.