Y Intercept Hong Kong Ltd Lowers Stake in Paramount Global (NASDAQ:PARA)

Y Intercept Hong Kong Ltd lowered its position in Paramount Global (NASDAQ:PARA - Free Report) by 84.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,668 shares of the company's stock after selling 139,030 shares during the period. Y Intercept Hong Kong Ltd's holdings in Paramount Global were worth $295,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. lifted its position in Paramount Global by 5.7% during the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock valued at $215,413,000 after purchasing an additional 1,119,314 shares in the last quarter. Geode Capital Management LLC lifted its position in Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company's stock valued at $162,731,000 after purchasing an additional 724,565 shares in the last quarter. Ariel Investments LLC lifted its position in Paramount Global by 3.2% during the fourth quarter. Ariel Investments LLC now owns 14,663,907 shares of the company's stock valued at $153,384,000 after purchasing an additional 460,539 shares in the last quarter. Slate Path Capital LP lifted 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 valued at $131,650,000 after purchasing an additional 3,741,000 shares in the last quarter. Finally, Hudson Bay Capital Management LP lifted its position in Paramount Global by 9.0% during the fourth quarter. Hudson Bay Capital Management LP now owns 6,601,039 shares of the company's stock valued at $69,047,000 after purchasing an additional 545,448 shares in the last quarter. Institutional investors own 73.00% of the company's stock.

Paramount Global Trading Up 3.5%

Shares of NASDAQ PARA traded up $0.44 during trading hours on Friday, reaching $13.01. The stock had a trading volume of 9,686,262 shares, compared to its average volume of 8,986,388. 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 firm has a market cap of $8.77 billion, a price-to-earnings ratio of -1.58, a P/E/G ratio of 4.08 and a beta of 1.19. The business's fifty day moving average price is $12.50 and its two-hundred day moving average price is $11.71. Paramount Global has a 52-week low of $9.95 and a 52-week high of $13.59.

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

Paramount Global Announces Dividend

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 dividend of $0.05 per share. The ex-dividend date was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. Paramount Global's dividend payout ratio is currently -2.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PARA shares. Guggenheim reissued a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, June 26th. JPMorgan Chase & Co. reduced their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Wall Street Zen assumed coverage on Paramount Global in a research note on Saturday, May 17th. They set a "hold" rating on the stock. Seaport Res Ptn cut Paramount Global from a "hold" rating to a "strong sell" rating in a research note on Monday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research note on Tuesday, July 22nd. Seven investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Paramount Global currently has an average rating of "Hold" and an average target price of $11.70.

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.