163,698 Shares in Paramount Global (NASDAQ:PARA) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of Paramount Global (NASDAQ:PARA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 163,698 shares of the company’s stock, valued at approximately $1,712,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Carson Advisory Inc. boosted its stake in shares of Paramount Global by 1.9% in the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after buying an additional 1,004 shares during the period. Allworth Financial LP boosted its stake in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the period. PNC Financial Services Group Inc. lifted its stake in Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after purchasing an additional 1,481 shares during the last quarter. Huntington National Bank lifted its stake in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after purchasing an additional 1,573 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PARA shares. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley boosted their target price on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Finally, Macquarie restated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.58.

Paramount Global Trading Down 1.5 %

NASDAQ:PARA opened at $11.50 on Wednesday. The firm has a market cap of $7.67 billion, a P/E ratio of -1.40, a PEG ratio of 1.68 and a beta of 1.69. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock’s 50 day simple moving average is $10.77 and its 200-day simple moving average is $10.73. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is currently -2.43%.

Paramount Global Company 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.