Victory Capital Management Inc. Purchases 79,605 Shares of Paramount Global (NASDAQ:PARA)

Victory Capital Management Inc. increased its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 365.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,410 shares of the company's stock after acquiring an additional 79,605 shares during the quarter. Victory Capital Management Inc.'s holdings in Paramount Global were worth $1,500,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PARA. Invesco Ltd. raised its holdings in shares of Paramount Global by 9.4% in 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 period. Charles Schwab Investment Management Inc. lifted its position in shares of Paramount Global by 15.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company's stock valued at $171,567,000 after buying an additional 1,767,173 shares during the last quarter. Ariel Investments LLC increased its holdings in Paramount Global by 18.0% in the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company's stock worth $146,168,000 after acquiring an additional 1,731,714 shares during the last quarter. Northern Trust Corp raised its stake in Paramount Global by 1.9% in the 3rd quarter. Northern Trust Corp now owns 5,304,103 shares of the company's stock valued at $68,423,000 after acquiring an additional 96,952 shares during the period. Finally, Armistice Capital LLC raised its stake in 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 acquiring an additional 283,559 shares during the period. Institutional investors own 73.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Benchmark reissued a "buy" rating and issued a $19.00 price target on shares of Paramount Global in a research report on Tuesday, April 30th. Argus lowered Paramount Global from a "hold" rating to a "sell" rating in a report on Friday, May 3rd. Wolfe Research upgraded Paramount Global from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 4th. Raymond James restated a "market perform" rating on shares of Paramount Global in a research note on Tuesday, March 26th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $13.00 price target on shares of Paramount Global in a research report on Tuesday, April 9th. Nine investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $13.58.

Paramount Global Trading Down 4.9 %

Shares of PARA traded down $0.62 during mid-day trading on Friday, reaching $12.02. The company's stock had a trading volume of 17,127,627 shares, compared to its average volume of 22,733,076. Paramount Global has a 52 week low of $10.12 and a 52 week high of $17.50. The stock has a market cap of $8.01 billion, a PE ratio of -80.13, a P/E/G ratio of 0.36 and a beta of 1.74. The company's fifty day moving average price is $11.95 and its two-hundred day moving average price is $13.01. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

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

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. Paramount Global's dividend payout ratio (DPR) is currently -133.32%.

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.