Hudson Bay Capital Management LP Boosts Holdings in Paramount Global (NASDAQ:PARA)

Hudson Bay Capital Management LP lifted its position in Paramount Global (NASDAQ:PARA - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,601,039 shares of the company's stock after purchasing an additional 545,448 shares during the quarter. Paramount Global comprises approximately 0.2% of Hudson Bay Capital Management LP's portfolio, making the stock its 23rd largest holding. Hudson Bay Capital Management LP owned approximately 0.99% of Paramount Global worth $69,047,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PARA. Allworth Financial LP raised its stake in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after acquiring an additional 1,395 shares during the last quarter. Ossiam increased its stake in shares of Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after purchasing an additional 1,022 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. increased its stake in shares of Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock valued at $32,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Paramount Global during the fourth quarter valued at approximately $35,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Down 1.5%

Shares of NASDAQ PARA traded down $0.18 during midday trading on Wednesday, reaching $11.81. 7,454,099 shares of the company's stock traded hands, compared to its average volume of 10,325,364. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock's 50 day simple moving average is $11.45 and its 200-day simple moving average is $11.09. Paramount Global has a one year low of $9.54 and a one year high of $13.05. The company has a market cap of $7.92 billion, a price-to-earnings ratio of -1.44, a P/E/G ratio of 1.68 and a beta of 1.25.

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

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.69%. Paramount Global's payout ratio is -2.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PARA shares. Morgan Stanley reduced their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a research note on Wednesday, April 2nd. UBS Group decreased their price target on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Benchmark decreased their target price on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, StockNews.com started coverage on shares of Paramount Global in a research report on Friday, May 9th. They set a "hold" rating on the stock. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Paramount Global has a consensus rating of "Hold" and a consensus price target 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.