88,192 Shares in Paramount Global (NASDAQ:PARA) Bought by Range Financial Group LLC

Range Financial Group LLC bought a new stake in Paramount Global (NASDAQ:PARA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 88,192 shares of the company's stock, valued at approximately $916,000.

Other hedge funds also recently made changes to their positions in the company. Atlas Capital Advisors LLC bought a new position in shares of Paramount Global in the second quarter valued at $35,000. Newbridge Financial Services Group Inc. bought a new position in shares of Paramount Global in the 4th quarter valued at about $44,000. SageView Advisory Group LLC bought a new stake in shares of Paramount Global in the 1st quarter valued at about $56,000. GAMMA Investing LLC lifted its stake in Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company's stock valued at $60,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Paramount Global during the second quarter worth about $65,000. 73.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PARA. JPMorgan Chase & Co. decreased their target price on Paramount Global from $12.00 to $11.00 and set an "underweight" rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a report on Friday, August 9th. Rosenblatt Securities restated a "neutral" rating and set a $14.00 target price on shares of Paramount Global in a research note on Tuesday, June 4th. Wolfe Research lowered shares of Paramount Global from a "peer perform" rating to an "underperform" rating and set a $10.00 price target on the stock. in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company raised shares of Paramount Global from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. Eleven research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global presently has an average rating of "Hold" and an average target price of $12.47.

Paramount Global Price Performance

Shares of NASDAQ PARA traded down $0.08 during trading hours on Thursday, hitting $10.38. 10,020,726 shares of the stock were exchanged, compared to its average volume of 17,031,334. The company's fifty day simple moving average is $11.02 and its two-hundred day simple moving average is $11.39. The company has a market cap of $6.92 billion, a PE ratio of -69.20, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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 positive return on equity of 4.88% and a negative net margin of 17.62%. On average, sell-side analysts predict that Paramount Global will post 1.57 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.93%. Paramount Global's payout ratio is presently -133.32%.

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.