Yousif Capital Management LLC Sells 1,209 Shares of Paramount Global (NASDAQ:PARA)

Yousif Capital Management LLC decreased its stake in shares of Paramount Global (NASDAQ:PARA) by 1.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 121,994 shares of the company’s stock after selling 1,209 shares during the period. Yousif Capital Management LLC’s holdings in Paramount Global were worth $1,459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ossiam increased its position in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after purchasing an additional 1,022 shares during the last quarter. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Paramount Global by 2.3% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 51,913 shares of the company’s stock worth $621,000 after purchasing an additional 1,143 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Paramount Global by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company’s stock worth $2,722,000 after acquiring an additional 1,640 shares during the period. Finally, Norinchukin Bank The lifted its stake in Paramount Global by 6.8% in the fourth quarter. Norinchukin Bank The now owns 25,793 shares of the company’s stock worth $270,000 after acquiring an additional 1,640 shares during the period. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PARA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark lowered their price objective on Paramount Global from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, April 2nd. Wall Street Zen initiated coverage on Paramount Global in a research report on Saturday, May 17th. They set a “hold” rating for the company. Finally, Citigroup reissued a “neutral” rating and set a $12.00 price objective (down previously from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.33.

Paramount Global Trading Up 0.8%

Shares of NASDAQ:PARA opened at $11.99 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 1 year low of $9.54 and a 1 year high of $12.54. The company has a market cap of $8.08 billion, a P/E ratio of -1.46, a PEG ratio of 1.68 and a beta of 1.19. The stock’s fifty day moving average price is $11.63 and its 200-day moving average price is $11.27.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. During the same period last year, the company earned $0.62 EPS. Paramount Global’s revenue for the quarter was down 6.4% on a year-over-year basis. Sell-side analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.67%. Paramount Global’s payout ratio is -2.43%.

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.