Jump Financial LLC Invests $935,000 in Paramount Global (NASDAQ:PARA)

Jump Financial LLC purchased a new stake in Paramount Global (NASDAQ:PARA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 89,427 shares of the company's stock, valued at approximately $935,000.

A number of other hedge funds also recently made changes to their positions in the stock. Bridgewater Associates LP increased its holdings in Paramount Global by 64.5% in the 4th quarter. Bridgewater Associates LP now owns 539,653 shares of the company's stock worth $5,645,000 after purchasing an additional 211,554 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of Paramount Global in the fourth quarter valued at approximately $45,000. Water Island Capital LLC increased its stake in shares of Paramount Global by 0.8% in the fourth quarter. Water Island Capital LLC now owns 1,511,267 shares of the company's stock valued at $15,808,000 after buying an additional 11,885 shares during the period. Sterling Capital Management LLC raised its holdings in Paramount Global by 54.1% in the 4th quarter. Sterling Capital Management LLC now owns 35,358 shares of the company's stock valued at $370,000 after buying an additional 12,418 shares during the last quarter. Finally, Heritage Trust Co acquired a new stake in Paramount Global during the 4th quarter worth approximately $140,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Up 2.6 %

Shares of PARA traded up $0.30 during trading hours on Friday, hitting $11.73. The stock had a trading volume of 9,440,814 shares, compared to its average volume of 11,272,071. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The firm has a market capitalization of $7.82 billion, a P/E ratio of -1.43, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The firm has a 50 day simple moving average of $11.38 and a 200-day simple moving average of $10.97. 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 (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Sell-side analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is -2.15%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PARA. 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 research note on Tuesday, February 4th. Guggenheim reiterated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a report on Wednesday, April 2nd. Finally, UBS Group dropped their price target on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Paramount Global presently has a consensus 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.