27,953 Shares in Paramount Global (NASDAQ:PARA) Acquired by Prodigy Asset Management LLC

Prodigy Asset Management LLC bought a new position in shares of Paramount Global (NASDAQ:PARA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,953 shares of the company's stock, valued at approximately $292,000. Paramount Global makes up approximately 0.2% of Prodigy Asset Management LLC's investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PARA. Charles Schwab Investment Management Inc. increased its stake in Paramount Global by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock worth $80,993,000 after buying an additional 348,298 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Paramount Global by 824.1% in the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock valued at $2,029,000 after buying an additional 174,514 shares during the period. Wilsey Asset Management Inc. boosted its holdings in shares of Paramount Global by 16.2% in the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock valued at $19,898,000 after buying an additional 265,408 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Paramount Global by 24.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock valued at $47,973,000 after buying an additional 908,515 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Paramount Global in the 4th quarter valued at about $5,457,000. Institutional investors and hedge funds own 73.00% of the company's stock.

Paramount Global Price Performance

Shares of NASDAQ:PARA traded down $0.20 during trading on Friday, reaching $11.70. The company had a trading volume of 10,259,011 shares, compared to its average volume of 10,279,560. The firm's fifty day moving average is $11.44 and its 200 day moving average is $11.12. The firm has a market capitalization of $7.85 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Paramount Global has a twelve month low of $9.54 and a twelve month high of $13.05. 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 (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The company had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS. On average, equities analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio is currently -2.43%.

Wall Street Analyst Weigh In

PARA has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reissued a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reduced their target price on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, StockNews.com initiated coverage on shares of Paramount Global in a research note on Saturday. They set a "hold" rating for the company. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.58.

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.