Paramount Global (NASDAQ:PARA) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 450.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,518 shares of the company's stock after acquiring an additional 60,992 shares during the period. Tower Research Capital LLC TRC's holdings in Paramount Global were worth $779,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PARA. Contrarius Group Holdings Ltd acquired a new stake in Paramount Global in the 4th quarter valued at $146,230,000. Norges Bank acquired a new stake in shares of Paramount Global in the fourth quarter valued at about $45,202,000. New Age Alpha Advisors LLC purchased a new stake in shares of Paramount Global during the 4th quarter valued at about $20,292,000. Lingotto Investment Management LLP boosted its holdings in Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock worth $468,120,000 after acquiring an additional 1,593,579 shares during the period. Finally, Invesco Ltd. grew its position in Paramount Global by 5.7% in the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock valued at $215,413,000 after acquiring an additional 1,119,314 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a research report on Wednesday, April 2nd. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com assumed coverage on Paramount Global in a research report on Wednesday. They set a "hold" rating on the stock. Benchmark reissued a "buy" rating and issued a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Finally, UBS Group dropped their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Paramount Global currently has an average rating of "Hold" and an average target price of $11.92.

Paramount Global Stock Performance

Paramount Global stock opened at $11.73 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company has a fifty day moving average price of $11.39 and a two-hundred day moving average price of $10.98. The company has a market cap of $7.82 billion, a PE ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.31.

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

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is -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.

Want to see what other hedge funds are holding PARA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paramount Global (NASDAQ:PARA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.