AlphaQuest LLC Purchases 24,756 Shares of Paramount Global (NASDAQ:PARA)

AlphaQuest LLC raised its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 89.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,456 shares of the company's stock after acquiring an additional 24,756 shares during the period. AlphaQuest LLC's holdings in Paramount Global were worth $549,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PARA. Principal Financial Group Inc. boosted its holdings in shares of Paramount Global by 22.3% during the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company's stock worth $7,258,000 after acquiring an additional 124,740 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Paramount Global in the third quarter valued at approximately $286,000. State of New Jersey Common Pension Fund D raised its position in shares of Paramount Global by 14.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 231,127 shares of the company's stock valued at $2,455,000 after buying an additional 29,057 shares in the last quarter. Entropy Technologies LP raised its position in shares of Paramount Global by 28.6% in the third quarter. Entropy Technologies LP now owns 71,492 shares of the company's stock valued at $759,000 after buying an additional 15,900 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Paramount Global by 46.0% in the third quarter. GSA Capital Partners LLP now owns 87,924 shares of the company's stock valued at $934,000 after buying an additional 27,709 shares in the last quarter. Institutional investors own 73.00% of the company's stock.

Paramount Global Stock Up 1.0 %

Shares of NASDAQ:PARA opened at $11.58 on Thursday. The firm has a market cap of $7.72 billion, a P/E ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a quick ratio of 1.10, a current ratio of 1.27 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 $14.54. The business has a fifty day simple moving average of $11.01 and a 200 day simple moving average of $10.79.

Remove Ads

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). The company 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%. Analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.

Analyst Ratings Changes

PARA has been the subject of a number of analyst reports. Guggenheim reiterated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Benchmark reaffirmed a "buy" rating and issued a $19.00 target price 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $12.10.

Paramount Global Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.