Paramount Global (NASDAQ:PARA) Shares Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC lifted its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 246.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,303 shares of the company's stock after buying an additional 79,888 shares during the period. Lighthouse Investment Partners LLC's holdings in Paramount Global were worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock worth $701,242,000 after purchasing an additional 761,561 shares during the last quarter. Lingotto Investment Management LLP grew its position in Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock worth $468,120,000 after purchasing an additional 1,593,579 shares during the last quarter. Invesco Ltd. grew its position in Paramount Global by 5.7% in the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock worth $215,413,000 after purchasing an additional 1,119,314 shares during the last quarter. Geode Capital Management LLC grew its position in Paramount Global by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company's stock worth $162,731,000 after purchasing an additional 724,565 shares during the last quarter. Finally, Ariel Investments LLC grew its position in Paramount Global by 3.2% in the 4th quarter. Ariel Investments LLC now owns 14,663,907 shares of the company's stock worth $153,384,000 after purchasing an additional 460,539 shares during the last quarter. Institutional investors own 73.00% of the company's stock.

Analyst Upgrades and Downgrades

PARA has been the subject of several recent analyst reports. Morgan Stanley decreased their target price 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. StockNews.com initiated coverage on shares of Paramount Global in a research report on Saturday. They issued a "hold" rating for the company. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. UBS Group decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Finally, Benchmark reduced their price target on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Paramount Global currently has an average rating of "Hold" and an average price target of $11.58.

Paramount Global Price Performance

Shares of NASDAQ:PARA traded down $0.20 during trading on Friday, reaching $11.70. The company had a trading volume of 10,259,011 shares, compared to its average volume of 10,279,560. The firm's fifty day moving average is $11.44 and its 200 day moving average is $11.12. The firm has a market capitalization of $7.85 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Paramount Global has a twelve month low of $9.54 and a twelve month high of $13.05. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate 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 business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The business's quarterly revenue was down 6.4% on a year-over-year basis. On average, equities analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio is presently -2.43%.

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.