Xponance Inc. Has $1.06 Million Holdings in Paramount Global (NASDAQ:PARA)

Xponance Inc. cut its stake in shares of Paramount Global (NASDAQ:PARA) by 18.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 71,866 shares of the company’s stock after selling 16,019 shares during the quarter. Xponance Inc.’s holdings in Paramount Global were worth $1,063,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PARA. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global during the third quarter worth $25,000. Anchor Investment Management LLC acquired a new stake in Paramount Global in the fourth quarter valued at $30,000. Archer Investment Corp acquired a new stake in Paramount Global in the fourth quarter valued at $30,000. WFA of San Diego LLC increased its holdings in Paramount Global by 635.0% in the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after purchasing an additional 2,286 shares during the period. Finally, Cornerstone Planning Group LLC increased its holdings in Paramount Global by 55.1% in the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock valued at $38,000 after purchasing an additional 1,056 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on PARA. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Paramount Global in a research report on Thursday, February 29th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research report on Tuesday, January 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and an average target price of $13.79.

Paramount Global Stock Performance

PARA stock opened at $12.68 on Thursday. Paramount Global has a 1 year low of $10.12 and a 1 year high of $24.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17. The company’s 50-day moving average is $11.50 and its 200-day moving average is $12.88.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.80 billion. During the same quarter last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts anticipate that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.58%. Paramount Global’s payout ratio is -19.61%.

About Paramount Global

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.