LSV Asset Management Sells 350,771 Shares of Paramount Global (NASDAQ:PARA)

LSV Asset Management decreased its stake in Paramount Global (NASDAQ:PARA - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,164,624 shares of the company's stock after selling 350,771 shares during the period. LSV Asset Management owned about 0.33% of Paramount Global worth $32,015,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Paramount Global by 9.4% during the 3rd quarter. Invesco Ltd. now owns 14,832,568 shares of the company's stock worth $191,340,000 after purchasing an additional 1,272,851 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Paramount Global by 15.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company's stock worth $171,567,000 after purchasing an additional 1,767,173 shares during the period. Ariel Investments LLC increased its stake in Paramount Global by 18.0% in the third quarter. Ariel Investments LLC now owns 11,330,850 shares of the company's stock valued at $146,168,000 after purchasing an additional 1,731,714 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Paramount Global by 1.9% during the third quarter. Northern Trust Corp now owns 5,304,103 shares of the company's stock valued at $68,423,000 after purchasing an additional 96,952 shares during the period. Finally, Armistice Capital LLC grew its stake in shares of Paramount Global by 10.2% in the 3rd quarter. Armistice Capital LLC now owns 3,071,559 shares of the company's stock valued at $39,623,000 after buying an additional 283,559 shares during the period. Institutional investors and hedge funds own 73.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Paramount Global from $13.00 to $12.00 and set an "underweight" rating on the stock in a report on Thursday, April 4th. Argus lowered shares of Paramount Global from a "hold" rating to a "sell" rating in a research note on Friday. Morgan Stanley lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Tuesday, February 27th. Needham & Company LLC cut shares of Paramount Global from a "buy" rating to a "hold" rating in a report on Tuesday, April 30th. Finally, Benchmark restated a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a report on Tuesday, April 30th. Ten analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $13.58.

Paramount Global Stock Performance

PARA stock traded up $0.40 during mid-day trading on Monday, hitting $13.29. The company had a trading volume of 23,560,680 shares, compared to its average volume of 20,323,094. Paramount Global has a 12 month low of $10.12 and a 12 month high of $17.50. The stock's fifty day moving average price is $11.60 and its two-hundred day moving average price is $12.90. The firm has a market cap of $8.86 billion, a PE ratio of -88.59, a price-to-earnings-growth ratio of 0.39 and a beta of 1.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.28. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. Paramount Global's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. On average, analysts forecast that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global's dividend payout ratio (DPR) is currently -133.32%.

About Paramount Global

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.