Public Sector Pension Investment Board Sells 62,407 Shares of Paramount Global (NASDAQ:PARA)

Public Sector Pension Investment Board reduced its position in Paramount Global (NASDAQ:PARA - Free Report) by 70.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,942 shares of the company's stock after selling 62,407 shares during the period. Public Sector Pension Investment Board's holdings in Paramount Global were worth $276,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock worth $26,000 after acquiring an additional 1,573 shares in the last quarter. Huntington National Bank boosted its stake in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company's stock worth $29,000 after acquiring an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of Paramount Global during the 2nd quarter worth about $35,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paramount Global during the 2nd quarter worth about $43,000. Finally, Kennebec Savings Bank bought a new stake in shares of Paramount Global during the 3rd quarter worth about $47,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Trading Up 1.6 %

PARA traded up $0.18 during mid-day trading on Monday, reaching $11.17. The stock had a trading volume of 11,062,213 shares, compared to its average volume of 14,707,851. The stock has a market capitalization of $7.45 billion, a P/E ratio of -1.36, a P/E/G ratio of 1.33 and a beta of 1.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm's fifty day simple moving average is $10.74 and its two-hundred day simple moving average is $10.86. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. On average, equities analysts predict that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.79%. Paramount Global's dividend payout ratio is currently -2.43%.

Analysts Set New Price Targets

Several analysts have recently issued reports on PARA shares. Macquarie reiterated an "underperform" rating and set a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th. Guggenheim decreased their target price on Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. StockNews.com upgraded Paramount Global from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a research note on Thursday, August 15th. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $12.43.

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.