Financial Counselors Inc. lifted its stake in Paramount Global (NASDAQ:PARA - Free Report) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 864,287 shares of the company's stock after acquiring an additional 56,021 shares during the quarter. Financial Counselors Inc. owned approximately 0.13% of Paramount Global worth $8,980,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of PARA. Newbridge Financial Services Group Inc. acquired a new position in shares of Paramount Global during the 4th quarter worth approximately $44,000. Atlas Capital Advisors LLC bought a new position in shares of Paramount Global in the second quarter valued at $35,000. SageView Advisory Group LLC acquired a new position in Paramount Global during the first quarter worth $56,000. GAMMA Investing LLC raised its position in Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company's stock worth $60,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Paramount Global by 40.9% in the first quarter. Bessemer Group Inc. now owns 5,868 shares of the company's stock valued at $68,000 after acquiring an additional 1,704 shares during the last quarter. Institutional investors own 73.00% of the company's stock.
Paramount Global Stock Performance
Shares of PARA traded down $0.05 during mid-day trading on Tuesday, hitting $10.42. 7,175,403 shares of the company's stock were exchanged, compared to its average volume of 17,127,146. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The stock's 50-day simple moving average is $11.01 and its 200-day simple moving average is $11.42. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of -69.80, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75.
Paramount Global (NASDAQ:PARA - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.14 by $0.40. The company had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. On average, equities research analysts expect that Paramount Global will post 1.57 EPS for the current year.
Paramount Global Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.92%. Paramount Global's payout ratio is -133.32%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PARA. Wells Fargo & Company upgraded shares of Paramount Global from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. The Goldman Sachs Group initiated coverage on Paramount Global in a research report on Tuesday, June 25th. They set a "sell" rating and a $9.50 price target on the stock. Wolfe Research cut Paramount Global from a "peer perform" rating to an "underperform" rating and set a $10.00 price objective for the company. in a research report on Tuesday, July 9th. Evercore ISI decreased their target price on Paramount Global from $13.00 to $11.50 and set an "in-line" rating on the stock in a report on Tuesday, July 9th. Finally, StockNews.com cut Paramount Global from a "hold" rating to a "sell" rating in a research note on Monday, August 12th. Eleven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.47.
Get Our Latest Stock Analysis on PARA
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.
Featured Articles
Before you consider Paramount Global, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paramount Global wasn't on the list.
While Paramount Global currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
