Loomis Sayles & Co. L P lowered its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,854,751 shares of the company's stock after selling 109,465 shares during the quarter. Loomis Sayles & Co. L P owned about 0.58% of Paramount Global worth $40,321,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Contrarius Group Holdings Ltd acquired a new stake in Paramount Global in the fourth quarter valued at about $146,230,000. State Street Corp boosted its stake in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company's stock valued at $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC grew its holdings in Paramount Global by 12.1% during the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock worth $157,168,000 after acquiring an additional 1,606,779 shares during the period. Lingotto Investment Management LLP raised its position in Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock worth $468,120,000 after acquiring an additional 1,593,579 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the period. Institutional investors and hedge funds own 73.00% of the company's stock.
Paramount Global Trading Down 0.5 %
NASDAQ PARA traded down $0.06 on Tuesday, hitting $11.91. 2,883,550 shares of the company were exchanged, compared to its average volume of 12,450,975. The company's 50 day moving average price is $11.31 and its 200-day moving average price is $10.91. The firm has a market capitalization of $7.94 billion, a P/E ratio of -1.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. 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 twelve month low of $9.54 and a twelve month high of $14.54.
Paramount Global (NASDAQ:PARA - Get Free Report) last announced 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.
Paramount Global Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Paramount Global's payout ratio is -2.15%.
Analyst Ratings Changes
PARA has been the subject of several recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley boosted their price target on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 4th. Benchmark restated a "buy" rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reiterated a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Finally, StockNews.com initiated coverage on shares of Paramount Global in a research report on Sunday. They set a "hold" rating for the company. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $12.10.
Read Our Latest Report on Paramount Global
Paramount Global Company Profile
(
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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