Paramount Global (NASDAQ:PARA) Shares Acquired by Slate Path Capital LP

Slate Path Capital LP raised its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 42.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,586,000 shares of the company's stock after purchasing an additional 3,741,000 shares during the quarter. Paramount Global accounts for 2.4% of Slate Path Capital LP's holdings, making the stock its 18th largest holding. Slate Path Capital LP owned 1.89% of Paramount Global worth $131,650,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Contrarius Group Holdings Ltd acquired a new stake in Paramount Global in the 4th quarter valued at approximately $146,230,000. Norges Bank purchased a new position in shares of Paramount Global during the fourth quarter worth $45,202,000. New Age Alpha Advisors LLC acquired a new stake in shares of Paramount Global in the fourth quarter valued at $20,292,000. Lingotto Investment Management LLP raised its holdings in shares of Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after buying an additional 1,593,579 shares during the period. Finally, Invesco Ltd. boosted its holdings in Paramount Global by 5.7% during the 4th 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 during the period. Hedge funds and other institutional investors own 73.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Benchmark reissued a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. UBS Group reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research note on Wednesday, April 2nd. Morgan Stanley increased their price objective on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Paramount Global has an average rating of "Hold" and a consensus price target of $11.92.

Paramount Global Stock Up 2.6 %

Shares of NASDAQ PARA traded up $0.30 during midday trading on Friday, hitting $11.73. 9,440,814 shares of the company's stock were exchanged, compared to its average volume of 11,243,431. 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 has a twelve month low of $9.54 and a twelve month high of $14.54. 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 firm's fifty day simple moving average is $11.39 and its 200-day simple moving average is $10.98.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results 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 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%. Research analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

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