Financial Counselors Inc. Acquires 112,578 Shares of Paramount Global (NASDAQ:PARA)

Financial Counselors Inc. lifted its stake in Paramount Global (NASDAQ:PARA - Free Report) by 20.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 662,493 shares of the company's stock after acquiring an additional 112,578 shares during the quarter. Financial Counselors Inc. owned approximately 0.10% of Paramount Global worth $9,798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. VisionPoint Advisory Group LLC acquired a new stake in Paramount Global in the third quarter valued at $25,000. Anchor Investment Management LLC acquired a new stake in Paramount Global in the 4th quarter valued at about $30,000. Cornerstone Planning Group LLC bought a new position in Paramount Global during the second quarter worth about $30,000. ICA Group Wealth Management LLC acquired a new position in Paramount Global during the fourth quarter worth approximately $32,000. Finally, WFA of San Diego LLC raised its stake in Paramount Global by 635.0% in the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company's stock valued at $34,000 after buying an additional 2,286 shares during the period. Institutional investors own 73.00% of the company's stock.

Paramount Global Price Performance

PARA traded up $0.77 on Thursday, hitting $11.27. 27,241,406 shares of the stock were exchanged, compared to its average volume of 19,265,809. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of -10.90, a PEG ratio of 0.41 and a beta of 1.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17. Paramount Global has a 12 month low of $10.12 and a 12 month high of $24.00. The business has a 50-day moving average of $11.88 and a two-hundred day moving average of $12.93.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.09. The company had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The firm's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. Sell-side analysts forecast that Paramount Global will post 1.17 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.77%. Paramount Global's payout ratio is -19.61%.

Analyst Upgrades and Downgrades

PARA has been the subject of several research analyst reports. Morgan Stanley reduced their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $13.00 to $12.00 and set an "underweight" rating on the stock in a report on Thursday, April 4th. Raymond James reissued a "market perform" rating on shares of Paramount Global in a research report on Tuesday, March 26th. Redburn Atlantic downgraded shares of Paramount Global from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Finally, Benchmark lowered their price target on shares of Paramount Global from $30.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Paramount Global has a consensus rating of "Hold" and a consensus price target of $13.79.

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.