Cambridge Investment Research Advisors Inc. boosted its position in Paramount Global (NASDAQ:PARA – Free Report) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,675 shares of the company’s stock after buying an additional 7,977 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Paramount Global were worth $2,804,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC raised its holdings in shares of Paramount Global by 130.0% during the first quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the company’s stock valued at $27,000 after purchasing an additional 685 shares during the period. Horrell Capital Management Inc. raised its holdings in shares of Paramount Global by 61.3% during the first quarter. Horrell Capital Management Inc. now owns 1,613 shares of the company’s stock valued at $36,000 after purchasing an additional 613 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Paramount Global during the first quarter valued at about $36,000. Ellevest Inc. increased its position in shares of Paramount Global by 65.3% during the first quarter. Ellevest Inc. now owns 1,701 shares of the company’s stock worth $38,000 after acquiring an additional 672 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC bought a new stake in shares of Paramount Global during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 72.39% of the company’s stock.
Analysts Set New Price Targets
PARA has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Paramount Global in a research report on Thursday, August 17th. They set a “sell” rating for the company. Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $14.00 target price for the company. in a research report on Friday, July 7th. Barclays decreased their target price on shares of Paramount Global from $15.00 to $13.00 in a research report on Friday, May 12th. JPMorgan Chase & Co. boosted their target price on shares of Paramount Global from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 8th. Finally, Evercore ISI decreased their target price on shares of Paramount Global from $18.00 to $15.00 and set an “in-line” rating for the company in a research report on Monday, July 24th. Eight analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.16.
Paramount Global Stock Down 9.5 %
Paramount Global stock opened at $13.65 on Friday. Paramount Global has a twelve month low of $13.62 and a twelve month high of $25.93. The firm has a 50 day moving average price of $15.53 and a 200-day moving average price of $18.09. The company has a market capitalization of $8.89 billion, a P/E ratio of -7.26, a P/E/G ratio of 5.67 and a beta of 1.66. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.70.
Paramount Global (NASDAQ:PARA – Get Free Report) last released its earnings results on Monday, August 7th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11. Paramount Global had a negative net margin of 3.89% and a positive return on equity of 2.15%. The firm had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts predict that Paramount Global will post 0.46 EPS for the current year.
Paramount Global Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, September 14th. Paramount Global’s payout ratio is currently -10.64%.
Paramount Global Profile
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.
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