Yakira Capital Management Inc. Makes New Investment in Paramount Global (NASDAQ:PARA)

Yakira Capital Management Inc. purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 125,700 shares of the company's stock, valued at approximately $1,315,000.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP lifted its stake in Paramount Global by 140.1% during 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 during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of Paramount Global during the 4th quarter valued at $31,000. Rakuten Securities Inc. increased its stake in shares of Paramount Global by 187.8% in 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 in the last quarter. Atlas Capital Advisors Inc. bought a new position in Paramount Global in the 4th quarter worth $35,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in Paramount Global during the fourth quarter valued at $36,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PARA. Benchmark restated a "buy" rating and issued a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a report on Wednesday, April 2nd. Finally, Guggenheim reissued a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Paramount Global has a consensus rating of "Hold" and a consensus target price of $12.09.

Paramount Global Price Performance

PARA stock traded down $0.18 during trading on Friday, hitting $10.75. 1,647,944 shares of the company's stock traded hands, compared to its average volume of 11,688,062. The business has a fifty day simple moving average of $11.37 and a 200 day simple moving average of $10.95. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of -1.31, a P/E/G ratio of 1.68 and a beta of 1.31.

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

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.86%. Paramount Global's dividend payout ratio is presently -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.