Thompson Siegel & Walmsley LLC purchased a new position 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 529,912 shares of the company's stock, valued at approximately $5,543,000. Thompson Siegel & Walmsley LLC owned approximately 0.08% of Paramount Global at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PARA. Allworth Financial LP lifted 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 valued at $25,000 after buying an additional 1,395 shares in the last quarter. Huntington National Bank increased its holdings in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company's stock valued at $29,000 after purchasing an additional 1,561 shares during the last quarter. Rakuten Securities Inc. lifted its position 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. SBI Securities Co. Ltd. purchased a new stake in shares of Paramount Global during the 4th quarter worth $57,000. Finally, FNY Investment Advisers LLC raised its stake in Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock worth $75,000 after acquiring an additional 3,654 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on PARA shares. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reaffirmed a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Finally, Benchmark reaffirmed a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.10.
Read Our Latest Stock Analysis on Paramount Global
Paramount Global Stock Up 0.4 %
PARA stock traded up $0.05 during mid-day trading on Friday, hitting $11.69. 7,306,948 shares of the company were exchanged, compared to its average volume of 9,412,048. 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 firm has a market cap of $7.80 billion, a P/E ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. The firm's 50 day simple moving average is $11.05 and its 200 day simple moving average is $10.80. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54.
Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, sell-side analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.
Paramount Global Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. Paramount Global's dividend payout ratio (DPR) is -2.15%.
Paramount Global Profile
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Free Report)
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.
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