Signaturefd LLC Sells 1,165 Shares of Paramount Global (NASDAQ:PARA)

Signaturefd LLC trimmed its holdings in shares of Paramount Global (NASDAQ:PARA) by 14.3% during the fourth quarter, HoldingsChannel reports. The firm owned 6,969 shares of the company’s stock after selling 1,165 shares during the quarter. Signaturefd LLC’s holdings in Paramount Global were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PARA. VisionPoint Advisory Group LLC bought a new stake in Paramount Global in the third quarter worth about $25,000. Anchor Investment Management LLC bought a new stake in shares of Paramount Global in the 4th quarter worth approximately $30,000. Archer Investment Corp purchased a new position in Paramount Global in the fourth quarter valued at approximately $30,000. WFA of San Diego LLC grew its holdings in Paramount Global by 635.0% during 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 position in Paramount Global by 55.1% in the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after buying an additional 1,056 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Up 2.9 %

NASDAQ PARA opened at $12.25 on Tuesday. The stock’s 50-day simple moving average is $11.48 and its two-hundred day simple moving average is $12.88. Paramount Global has a twelve month low of $10.12 and a twelve month high of $24.00. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of -12.01, a PEG ratio of 0.42 and a beta of 1.77.

Paramount Global (NASDAQ:PARA) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company posted $0.08 EPS. Paramount Global’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts forecast that Paramount Global will post 1.19 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is currently -19.61%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PARA. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price target on shares of Paramount Global in a research report on Tuesday, April 9th. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Paramount Global in a report on Thursday, February 29th. JPMorgan Chase & Co. decreased their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Finally, Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Eight equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.79.

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.