Orion Portfolio Solutions LLC purchased a new position in Paramount Global (NASDAQ:PARA - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 65,134 shares of the company's stock, valued at approximately $692,000.
A number of other institutional investors have also recently bought and sold shares of PARA. Carson Advisory Inc. lifted its position in Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company's stock worth $577,000 after acquiring an additional 1,004 shares during the last quarter. Prestige Wealth Management Group LLC grew its position in Paramount Global by 13.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company's stock worth $90,000 after purchasing an additional 1,011 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Paramount Global by 8.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company's stock worth $181,000 after buying an additional 1,356 shares in the last quarter. Stonehearth Capital Management LLC lifted its holdings in shares of Paramount Global by 9.3% during the 3rd quarter. Stonehearth Capital Management LLC now owns 16,182 shares of the company's stock worth $172,000 after acquiring an additional 1,374 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company's stock worth $977,000 after acquiring an additional 1,481 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on PARA shares. Macquarie reaffirmed an "underperform" rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Monday, November 11th. Guggenheim dropped their price objective on Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Finally, StockNews.com upgraded shares of Paramount Global from a "sell" rating to a "hold" rating in a report on Monday, November 11th. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $12.43.
View Our Latest Stock Analysis on PARA
Paramount Global Trading Down 1.5 %
Shares of PARA stock traded down $0.17 during mid-day trading on Tuesday, hitting $10.81. 7,240,534 shares of the company's stock were exchanged, compared to its average volume of 14,555,866. The stock has a 50-day simple moving average of $10.82 and a two-hundred day simple moving average of $10.83. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $16.30. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.35 and a beta of 1.71.
Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.94 billion. During the same period last year, the business posted $0.30 earnings per share. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. Equities analysts expect that Paramount Global will post 1.86 EPS for the current fiscal year.
Paramount Global Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.85%. Paramount Global's payout ratio is currently -2.43%.
Paramount Global 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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