GABELLI & Co INVESTMENT ADVISERS INC. Has $5.71 Million Stock Position in Paramount Global (NASDAQ:PARA)

GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 294.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 545,550 shares of the company's stock after acquiring an additional 407,200 shares during the period. Paramount Global comprises about 1.0% of GABELLI & Co INVESTMENT ADVISERS INC.'s portfolio, making the stock its 29th largest holding. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.08% of Paramount Global worth $5,706,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Allworth Financial LP raised its position 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 during the period. Treasurer of the State of North Carolina increased its holdings in shares of Paramount Global by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company's stock worth $2,722,000 after purchasing an additional 1,640 shares during the period. Insight Inv LLC increased its holdings in shares of Paramount Global by 9.8% during the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company's stock worth $215,000 after purchasing an additional 1,825 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Paramount Global by 3.8% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company's stock valued at $531,000 after buying an additional 1,848 shares during the period. Finally, Perigon Wealth Management LLC grew its position in Paramount Global by 7.0% during the fourth quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company's stock worth $293,000 after buying an additional 1,874 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PARA has been the subject of a number of research reports. UBS Group reduced their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 4th. Benchmark restated a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a report on Wednesday, April 2nd. Finally, StockNews.com initiated coverage on shares of Paramount Global in a research report on Tuesday. They issued a "hold" rating for the company. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $11.92.

Paramount Global Stock Performance

PARA traded up $0.23 during trading on Friday, hitting $10.94. The stock had a trading volume of 6,698,723 shares, compared to its average volume of 11,513,455. 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 firm has a market cap of $7.30 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 50 day moving average price of $11.38 and a 200-day moving average price of $10.95. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates 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%. As a group, research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's payout ratio is -2.15%.

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.