Quantbot Technologies LP Makes New Investment in Paramount Global (NASDAQ:PARA)

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

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Huntington National Bank increased its position 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 valued at $29,000 after purchasing an additional 1,561 shares during the last quarter. Rakuten Securities Inc. increased its position 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 valued at $32,000 after purchasing 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 about $57,000. Finally, FNY Investment Advisers LLC increased its position in shares of Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock valued at $75,000 after purchasing an additional 3,654 shares during the last quarter. Institutional investors own 73.00% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Paramount Global Price Performance

Shares of NASDAQ PARA traded up $0.05 during midday trading on Friday, reaching $11.69. 7,306,948 shares of the stock traded hands, compared to its average volume of 9,412,048. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $7.80 billion, a PE ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company's 50 day moving average is $11.05 and its 200 day moving average is $10.80.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). The firm 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%. On average, equities research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

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