Occudo Quantitative Strategies LP Buys New Shares in Paramount Global (NASDAQ:PARA)

Occudo Quantitative Strategies LP purchased a new position in Paramount Global (NASDAQ:PARA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 44,888 shares of the company's stock, valued at approximately $470,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares during the period. Ossiam increased its position in Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after buying an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global during the fourth quarter valued at about $31,000. Rakuten Securities Inc. boosted its stake in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after buying an additional 2,019 shares in the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in Paramount Global in the fourth quarter worth about $35,000. Institutional investors own 73.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PARA shares. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a report on Wednesday, April 2nd. Guggenheim reissued a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. UBS Group reduced their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Finally, Benchmark lowered their target price on 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 research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $11.58.

Paramount Global Trading Up 0.7%

PARA traded up $0.08 during midday trading on Monday, reaching $11.78. 6,315,524 shares of the company were exchanged, compared to its average volume of 10,263,702. The stock has a market capitalization of $7.90 billion, a P/E ratio of -1.43, a PEG ratio of 1.68 and a beta of 1.25. The stock's 50-day simple moving average is $11.44 and its 200 day simple moving average is $11.12. 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 has a one year low of $9.54 and a one year high of $13.05.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.19 billion during the quarter, compared to analysts' expectations of $7.14 billion. During the same period in the prior year, the business earned $0.62 EPS. Paramount Global's revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's dividend payout ratio is -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.