One68 Global Capital LLC Acquires Shares of 240,634 Paramount Global (NASDAQ:PARA)

One68 Global Capital LLC acquired a new position in shares of Paramount Global (NASDAQ:PARA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 240,634 shares of the company's stock, valued at approximately $2,517,000. Paramount Global accounts for about 1.3% of One68 Global Capital LLC's holdings, making the stock its 17th largest holding.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Benchmark reiterated a "buy" rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a report on Wednesday, April 2nd. Morgan Stanley lifted their target price on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Tuesday, February 4th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim reiterated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.92.

Paramount Global Stock Down 1.9 %

Shares of PARA stock traded down $0.22 during trading hours on Friday, reaching $11.43. The company had a trading volume of 8,117,614 shares, compared to its average volume of 10,793,025. The company has a market cap of $7.62 billion, a price-to-earnings ratio of -1.39, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The business has a fifty day simple moving average of $11.41 and a 200-day simple moving average of $11.02.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. On average, research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.75%. Paramount Global's dividend payout ratio (DPR) is -2.15%.

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.