Quantbot Technologies LP Invests $6.40 Million in Paramount Global (NASDAQ:PARA)

Quantbot Technologies LP bought a new position in shares of Paramount Global (NASDAQ:PARA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 611,821 shares of the company's stock, valued at approximately $6,400,000. Quantbot Technologies LP owned about 0.09% of Paramount Global at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after purchasing an additional 1,395 shares during the period. Huntington National Bank grew its stake in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company's stock valued at $29,000 after buying an additional 1,561 shares during the period. Rakuten Securities Inc. increased its holdings in shares of Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after buying an additional 2,019 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Paramount Global during the 4th quarter valued at approximately $57,000. Finally, FNY Investment Advisers LLC lifted its holdings in Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock valued at $75,000 after acquiring an additional 3,654 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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Paramount Global Stock Up 0.4 %

PARA stock traded up $0.05 during midday trading on Friday, hitting $11.69. The company's stock had a trading volume of 7,306,948 shares, compared to its average volume of 9,412,048. The firm has a 50-day simple moving average of $11.05 and a 200-day simple moving average of $10.80. The firm has a market capitalization of $7.80 billion, a P/E ratio of -1.42, a PEG ratio of 1.68 and a beta of 1.60. 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 has a 52-week low of $9.54 and a 52-week high of $14.54.

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

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.71%. Paramount Global's dividend payout ratio (DPR) is -2.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PARA shares. Guggenheim reissued a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reaffirmed a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley lifted their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.10.

Paramount Global Company 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.