Graham Capital Management L.P. Buys 100,978 Shares of Paramount Global (NASDAQ:PARA)

Graham Capital Management L.P. raised its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 135.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,752 shares of the company's stock after purchasing an additional 100,978 shares during the quarter. Graham Capital Management L.P.'s holdings in Paramount Global were worth $1,838,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. increased its position in shares of Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after acquiring an additional 174,514 shares in the last quarter. Graypoint LLC boosted its stake in Paramount Global by 119.9% during the 4th quarter. Graypoint LLC now owns 47,989 shares of the company's stock valued at $502,000 after purchasing an additional 26,168 shares during the last quarter. Czech National Bank increased its holdings in Paramount Global by 6.5% during the 4th quarter. Czech National Bank now owns 129,023 shares of the company's stock worth $1,350,000 after purchasing an additional 7,874 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock worth $75,000 after purchasing an additional 3,654 shares during the last quarter. Finally, HB Wealth Management LLC bought a new position in shares of Paramount Global in the fourth quarter valued at approximately $127,000. Institutional investors own 73.00% of the company's stock.

Paramount Global Stock Performance

Shares of NASDAQ PARA traded up $0.09 during trading on Thursday, reaching $11.90. 5,350,311 shares of the stock traded hands, compared to its average volume of 10,305,550. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $7.98 billion, a P/E ratio of -1.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Paramount Global has a 52-week low of $9.54 and a 52-week high of $13.05. The company has a 50-day moving average of $11.44 and a 200-day moving average of $11.10.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. Analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. Paramount Global's dividend payout ratio is -2.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a report on Wednesday, April 2nd. Benchmark cut their price target on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley cut their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Guggenheim reaffirmed a "buy" rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.58.

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.