Neo Ivy Capital Management Sells 236,364 Shares of Paramount Global (NASDAQ:PARA)

Neo Ivy Capital Management lowered its position in Paramount Global (NASDAQ:PARA - Free Report) by 50.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,740 shares of the company's stock after selling 236,364 shares during the quarter. Paramount Global accounts for approximately 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 18th largest position. Neo Ivy Capital Management's holdings in Paramount Global were worth $2,482,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Paramount Global by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock valued at $78,533,000 after acquiring an additional 1,030,592 shares during the period. Bridgewater Associates LP raised its position in Paramount Global by 50.7% during the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock worth $3,484,000 after purchasing an additional 110,357 shares during the last quarter. Financial Counselors Inc. lifted its holdings in Paramount Global by 6.9% during the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company's stock worth $8,980,000 after buying an additional 56,021 shares during the period. HBK Investments L P bought a new stake in shares of Paramount Global in the 3rd quarter valued at about $5,098,000. Finally, Hoertkorn Richard Charles increased its stake in shares of Paramount Global by 38.1% in the third quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company's stock valued at $2,354,000 after buying an additional 61,191 shares during the period. Institutional investors own 73.00% of the company's stock.

Paramount Global Stock Performance

Shares of Paramount Global stock remained flat at $11.20 during trading hours on Wednesday. 3,292,928 shares of the company's stock were exchanged, compared to its average volume of 14,634,828. The stock has a market cap of $7.47 billion, a P/E ratio of -1.36, a P/E/G ratio of 1.33 and a beta of 1.71. The business has a 50 day simple moving average of $10.76 and a two-hundred day simple moving average of $10.86. Paramount Global has a 12-month low of $9.54 and a 12-month high of $16.83. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company's quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, December 16th. Paramount Global's dividend payout ratio (DPR) is presently -2.43%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PARA. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Guggenheim lowered their target price on shares of Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut their price target on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating on the stock in a research report on Thursday, August 15th. Finally, Macquarie reissued an "underperform" rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Paramount Global has a consensus rating of "Hold" and a consensus price target of $12.43.

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.