Stifel Financial Corp Sells 105,211 Shares of Paramount Global (NASDAQ:PARA)

Stifel Financial Corp reduced its stake in Paramount Global (NASDAQ:PARA - Free Report) by 39.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 160,259 shares of the company's stock after selling 105,211 shares during the quarter. Stifel Financial Corp's holdings in Paramount Global were worth $1,676,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in 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 raised 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 purchasing an additional 1,022 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global in the fourth quarter worth $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. bought a new stake in Paramount Global in the 4th quarter valued at $35,000. Institutional investors own 73.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Benchmark dropped their price target on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley dropped their target price on 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 reaffirmed a "hold" rating 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 for the company. in a research note on Wednesday, April 2nd. Finally, Guggenheim restated a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $11.58.

Paramount Global Trading Up 0.8%

Shares of NASDAQ:PARA traded up $0.10 during midday trading on Monday, hitting $12.04. The company had a trading volume of 1,222,816 shares, compared to its average volume of 10,403,860. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 12 month low of $9.54 and a 12 month high of $13.40. The firm has a fifty day simple moving average of $11.43 and a 200 day simple moving average of $11.07. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of -1.46, a PEG ratio of 1.68 and a beta of 1.25.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued 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. The firm had revenue of $7.19 billion for the quarter, compared to analysts' expectations of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company's revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 earnings per share. On average, analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The company also recently announced 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 yield of 1.66%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is presently -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.