Claret Asset Management Corp Sells 240,023 Shares of Paramount Global (NASDAQ:PARA)

Claret Asset Management Corp cut its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 58.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 172,813 shares of the company's stock after selling 240,023 shares during the quarter. Claret Asset Management Corp's holdings in Paramount Global were worth $1,808,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PARA. Allworth Financial LP raised its stake in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of Paramount Global during the fourth quarter valued at about $31,000. Rakuten Securities Inc. lifted its stake in 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. purchased a new position in shares of Paramount Global during the 4th quarter valued at $35,000. Finally, Resona Asset Management Co. Ltd. bought a new position in Paramount Global in the 4th quarter worth about $36,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Up 2.1 %

NASDAQ PARA opened at $10.94 on Friday. The stock has a market cap of $7.30 billion, a PE ratio of -1.33, a PEG ratio of 1.68 and a beta of 1.31. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company's 50-day moving average price is $11.38 and its 200-day moving average price is $10.95. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

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). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Equities research analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently announced 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 1.83%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is -2.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PARA. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim restated a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley raised their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Benchmark reissued a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, UBS Group dropped their price objective on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Paramount Global presently has an average rating of "Hold" and an average target price of $11.92.

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.

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