Tabor Asset Management LP Makes New $244,000 Investment in Paramount Global (NASDAQ:PARA)

Tabor Asset Management LP purchased a new position in Paramount Global (NASDAQ:PARA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,400 shares of the company's stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mattson Financial Services LLC bought a new stake in shares of Paramount Global in the 4th quarter worth approximately $28,000. Ossiam raised its holdings in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after buying an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Paramount Global during the 4th quarter valued at $31,000. Atlas Capital Advisors Inc. bought a new stake in Paramount Global during the 4th quarter valued at $35,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in Paramount Global during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 73.00% of the company's stock.

Paramount Global Trading Up 0.4%

Shares of NASDAQ PARA traded up $0.05 during mid-day trading on Friday, reaching $12.99. The company had a trading volume of 6,845,174 shares, compared to its average volume of 8,804,900. The business's 50-day moving average is $12.28 and its 200-day moving average is $11.56. 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 price-to-earnings-growth ratio of 3.92 and a beta of 1.19. Paramount Global has a 52 week low of $9.95 and a 52 week high of $13.29.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.19 billion for the quarter, compared to analysts' expectations of $7.14 billion. During the same period in the prior year, the business earned $0.62 EPS. The firm's quarterly revenue was down 6.4% on a year-over-year basis. Equities analysts expect that Paramount Global will post 1.77 earnings per share 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 given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.54%. The ex-dividend date was Monday, June 16th. Paramount Global's dividend payout ratio is presently -2.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PARA. UBS Group lowered their price target on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Wednesday, May 21st. 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 report on Tuesday, May 6th. Guggenheim reiterated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, June 26th. Finally, Wall Street Zen initiated coverage on shares of Paramount Global in a research report on Saturday, May 17th. They set a "hold" rating for the company. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Paramount Global currently has a consensus rating of "Hold" and a consensus target price of $11.67.

Paramount Global 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.