963,985 Shares in Paramount Global (NASDAQ:PARA) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new stake in Paramount Global (NASDAQ:PARA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 963,985 shares of the company's stock, valued at approximately $10,083,000. Arrowstreet Capital Limited Partnership owned approximately 0.14% of Paramount Global at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PARA. Contrarius Group Holdings Ltd acquired a new stake in shares of Paramount Global during the 4th quarter worth $146,230,000. State Street Corp grew its holdings in shares of Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company's stock worth $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Norges Bank acquired a new stake in shares of Paramount Global during the 4th quarter worth $45,202,000. New Age Alpha Advisors LLC acquired a new stake in shares of Paramount Global during the 4th quarter worth $20,292,000. Finally, Geode Capital Management LLC grew its holdings in shares of Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock worth $157,168,000 after purchasing an additional 1,606,779 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PARA has been the topic of several analyst reports. Guggenheim reissued a "buy" rating and set a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research report on Wednesday, April 2nd. StockNews.com started coverage on Paramount Global in a research report on Monday. They set a "hold" rating for the company. Finally, Morgan Stanley upped their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Paramount Global has an average rating of "Hold" and a consensus price target of $12.09.

Paramount Global Stock Down 0.6 %

Paramount Global stock traded down $0.07 during mid-day trading on Thursday, reaching $11.07. The stock had a trading volume of 707,362 shares, compared to its average volume of 11,788,364. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The stock's 50-day simple moving average is $11.36 and its 200-day simple moving average is $10.95. The firm has a market capitalization of $7.38 billion, a PE ratio of -1.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31.

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

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.81%. 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.