Cullen Investment Group LTD. Takes $1.19 Million Position in Paramount Global (NASDAQ:PARA)

Cullen Investment Group LTD. purchased a new position in Paramount Global (NASDAQ:PARA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 80,306 shares of the company's stock, valued at approximately $1,188,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in Paramount Global by 541.7% during the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company's stock worth $10,481,000 after purchasing an additional 598,235 shares during the last quarter. Ariel Investments LLC boosted its stake in Paramount Global by 18.0% during the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company's stock worth $146,168,000 after purchasing an additional 1,731,714 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Paramount Global during the 3rd quarter worth $1,240,000. Caprock Group LLC boosted its stake in Paramount Global by 2.9% during the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company's stock worth $746,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Paramount Global by 1,201.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company's stock worth $1,282,000 after purchasing an additional 78,100 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Wall Street Analyst Weigh In

PARA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Paramount Global from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley lowered their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 27th. JPMorgan Chase & Co. lowered their price target on shares of Paramount Global from $13.00 to $12.00 and set an "underweight" rating on the stock in a research report on Thursday, April 4th. Wolfe Research raised shares of Paramount Global from an "underperform" rating to a "peer perform" rating in a research report on Thursday, April 4th. Finally, Moffett Nathanson raised shares of Paramount Global from a "sell" rating to a "neutral" rating and set a $13.00 price target on the stock in a research report on Tuesday, January 9th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Paramount Global has a consensus rating of "Hold" and an average target price of $13.79.

Paramount Global Stock Performance

NASDAQ:PARA traded down $0.47 during midday trading on Tuesday, reaching $10.43. The stock had a trading volume of 14,869,370 shares, compared to its average volume of 19,132,740. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17. The stock has a market capitalization of $6.81 billion, a P/E ratio of -10.23, a PEG ratio of 0.41 and a beta of 1.77. The firm's fifty day simple moving average is $11.61 and its 200-day simple moving average is $12.88. Paramount Global has a 1-year low of $10.12 and a 1-year high of $24.00.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted 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 business 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%. Paramount Global's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, equities research analysts forecast that Paramount Global will post 1.17 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global's dividend payout ratio is currently -19.61%.

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.