6,579 Shares in Paramount Global (NASDAQ:PARA) Acquired by Kimelman & Baird LLC

Kimelman & Baird LLC bought a new stake in shares of Paramount Global (NASDAQ:PARA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,579 shares of the company’s stock, valued at approximately $68,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PARA. Atlas Capital Advisors LLC bought a new stake in Paramount Global in the 2nd quarter worth $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paramount Global in the second quarter worth about $43,000. Newbridge Financial Services Group Inc. bought a new position in shares of Paramount Global during the fourth quarter valued at approximately $44,000. SageView Advisory Group LLC purchased a new position in shares of Paramount Global during the first quarter valued at approximately $56,000. Finally, GAMMA Investing LLC raised its stake in Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after buying an additional 1,067 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Down 1.6 %

Shares of NASDAQ PARA opened at $10.62 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The firm’s 50-day moving average price is $10.69 and its 200-day moving average price is $11.30. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of -70.80, a P/E/G ratio of 0.60 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. On average, equities research analysts anticipate that Paramount Global will post 1.57 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.88%. Paramount Global’s payout ratio is presently -133.32%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PARA shares. Evercore ISI dropped their target price on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. The Goldman Sachs Group assumed coverage on Paramount Global in a research note on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price objective on the stock. Finally, StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Ten analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.18.

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.