Annandale Capital LLC lowered its position in Paramount Global (NASDAQ:PARA - Free Report) by 73.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,900 shares of the company's stock after selling 253,958 shares during the period. Annandale Capital LLC's holdings in Paramount Global were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Paramount Global during the fourth quarter worth $31,000. Rakuten Securities Inc. raised its holdings in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after acquiring an additional 2,019 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Paramount Global in the fourth quarter valued at $35,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Paramount Global during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 73.00% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on PARA shares. Guggenheim reaffirmed a "buy" rating and set a $14.00 price target on shares of Paramount Global in a research note 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 research note on Tuesday, February 4th. Benchmark reissued a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com initiated coverage on shares of Paramount Global in a research report on Monday. They issued a "hold" rating on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $12.09.
Check Out Our Latest Report on Paramount Global
Paramount Global Trading Down 1.6 %
NASDAQ PARA traded down $0.18 on Thursday, hitting $10.96. 3,799,598 shares of the stock were exchanged, compared to its average volume of 11,800,477. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of -1.33, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company's 50-day moving average price is $11.36 and its two-hundred day moving average price is $10.95. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54.
Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Research analysts predict that Paramount Global will post 1.77 EPS for the current year.
Paramount Global Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is presently -2.15%.
About Paramount Global
(
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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