Clear Harbor Asset Management LLC Invests $149,000 in Paramount Global (NASDAQ:PARA)

Clear Harbor Asset Management LLC bought a new position in shares of Paramount Global (NASDAQ:PARAFree Report) during the 4th quarter, Holdings Channel reports. The firm bought 10,047 shares of the company’s stock, valued at approximately $149,000.

Several other large investors also recently made changes to their positions in PARA. Captrust Financial Advisors bought a new position in Paramount Global in the second quarter valued at about $767,000. Marshall Wace LLP bought a new position in Paramount Global in the third quarter valued at about $3,099,000. Two Sigma Investments LP bought a new position in Paramount Global in the third quarter valued at about $4,764,000. Thrivent Financial for Lutherans bought a new position in Paramount Global in the third quarter valued at about $2,288,000. Finally, Public Employees Retirement System of Ohio bought a new position in Paramount Global in the third quarter valued at about $5,682,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

NASDAQ:PARA opened at $11.77 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Paramount Global has a 52-week low of $10.16 and a 52-week high of $24.00. The stock has a 50-day simple moving average of $12.22 and a 200 day simple moving average of $13.03.

Paramount Global (NASDAQ:PARAGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. Paramount Global’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. As a group, sell-side analysts forecast that Paramount Global will post 1.21 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, March 14th. Paramount Global’s payout ratio is -19.61%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PARA shares. Benchmark decreased their price target on Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Morgan Stanley cut their target price on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 27th. Loop Capital lowered Paramount Global from a “hold” rating to a “sell” rating and set a $12.00 target price on the stock. in a research note on Friday, December 8th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $15.00 to $18.00 in a research note on Wednesday, December 20th. Finally, Raymond James reissued a “market perform” rating on shares of Paramount Global in a research note on Tuesday. Ten investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and a consensus price target of $14.05.

Get Our Latest Stock Analysis on PARA

About Paramount Global

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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