Janney Montgomery Scott LLC lessened its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 37.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,085 shares of the company's stock after selling 72,746 shares during the period. Janney Montgomery Scott LLC's holdings in Paramount Global were worth $1,265,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock valued at $26,000 after purchasing an additional 1,573 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Paramount Global during the second quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in Paramount Global during the second quarter worth approximately $43,000. SageView Advisory Group LLC purchased a new stake in Paramount Global in the 1st quarter worth approximately $56,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company's stock valued at $52,000 after acquiring an additional 4,100 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.
Paramount Global Stock Down 4.5 %
Paramount Global stock traded down $0.51 during midday trading on Friday, hitting $10.84. 14,795,290 shares of the company were exchanged, compared to its average volume of 14,851,229. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The company's fifty day moving average price is $10.61 and its 200-day moving average price is $11.08. The company has a market cap of $7.23 billion, a PE ratio of -1.32, a price-to-earnings-growth ratio of 1.38 and a beta of 1.74.
Paramount Global (NASDAQ:PARA - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The business's quarterly revenue was down 5.6% compared to the same quarter last year. On average, research analysts predict that Paramount Global will post 1.81 EPS for the current fiscal year.
Paramount Global Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global's payout ratio is -2.43%.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. StockNews.com upgraded Paramount Global from a "sell" rating to a "hold" rating in a report on Monday. Guggenheim lowered their price target on Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Macquarie reaffirmed an "underperform" rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a report on Thursday, August 15th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Paramount Global has a consensus rating of "Hold" and a consensus target price of $12.40.
Check Out Our Latest Research Report on Paramount Global
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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