Landscape Capital Management L.L.C. Acquires 129,470 Shares of Paramount Global (NASDAQ:PARA)

Landscape Capital Management L.L.C. grew its stake in Paramount Global (NASDAQ:PARA - Free Report) by 200.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 194,166 shares of the company's stock after purchasing an additional 129,470 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Paramount Global were worth $2,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Paramount Global by 6.5% in the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company's stock worth $730,805,000 after acquiring an additional 3,803,928 shares in the last quarter. Lingotto Investment Management LLP increased its stake in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company's stock worth $311,046,000 after purchasing an additional 25,829,185 shares in the last quarter. Ariel Investments LLC raised its holdings in Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company's stock worth $145,899,000 after buying an additional 1,992,576 shares during the period. Kodai Capital Management LP lifted its stake in Paramount Global by 9.2% in the first quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company's stock valued at $73,732,000 after buying an additional 527,897 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Paramount Global by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company's stock valued at $38,698,000 after buying an additional 225,191 shares during the period. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Performance

NASDAQ:PARA traded down $0.21 on Friday, hitting $10.88. The company's stock had a trading volume of 11,203,319 shares, compared to its average volume of 14,786,879. 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 has a one year low of $9.54 and a one year high of $17.50. The stock has a fifty day moving average of $10.66 and a two-hundred day moving average of $11.01. The firm has a market capitalization of $7.26 billion, a P/E ratio of -1.32, a price-to-earnings-growth ratio of 1.25 and a beta of 1.74.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The company's revenue was down 5.6% on a year-over-year basis. Research analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

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 $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.84%. Paramount Global's payout ratio is presently -2.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Macquarie restated an "underperform" rating and set a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a report on Thursday, August 15th. Guggenheim cut their target price on Paramount Global from $19.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Finally, Benchmark reaffirmed a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.40.

About Paramount Global

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.