Paramount Global (NASDAQ:PARA) is Monaco Asset Management SAM's 7th Largest Position

Monaco Asset Management SAM raised its position in Paramount Global (NASDAQ:PARA - Free Report) by 140.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 975,000 shares of the company's stock after acquiring an additional 570,000 shares during the period. Paramount Global comprises approximately 1.5% of Monaco Asset Management SAM's holdings, making the stock its 7th largest holding. Monaco Asset Management SAM owned 0.15% of Paramount Global worth $10,198,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after acquiring an additional 1,395 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Paramount Global by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company's stock valued at $977,000 after buying an additional 1,481 shares during the last quarter. Huntington National Bank boosted its position in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company's stock valued at $29,000 after buying an additional 1,561 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its position in Paramount Global by 10.4% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company's stock valued at $187,000 after buying an additional 1,663 shares during the last quarter. Finally, Insight Inv LLC boosted its position in Paramount Global by 9.8% in the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company's stock valued at $215,000 after buying an additional 1,825 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PARA. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reiterated a "buy" rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley raised their price objective on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Finally, Guggenheim restated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.10.

Paramount Global Price Performance

NASDAQ:PARA traded down $0.02 during trading hours on Tuesday, hitting $11.66. The stock had a trading volume of 5,674,452 shares, compared to its average volume of 12,523,763. Paramount Global has a one year low of $9.54 and a one year high of $14.54. 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 capitalization of $7.78 billion, a price-to-earnings ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a 50 day simple moving average of $11.07 and a two-hundred day simple moving average of $10.80.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Research analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently announced 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 1.72%. Paramount Global's dividend payout ratio is presently -2.15%.

Paramount Global 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.