Paramount Global (NASDAQ:PARA) Shares Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its position in Paramount Global (NASDAQ:PARA) by 46.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 87,924 shares of the company’s stock after buying an additional 27,709 shares during the period. GSA Capital Partners LLP’s holdings in Paramount Global were worth $934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in Paramount Global in the 2nd quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new position in Paramount Global during the 2nd quarter worth approximately $43,000. Kennebec Savings Bank purchased a new position in shares of Paramount Global during the 3rd quarter worth approximately $47,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of Paramount Global in the 1st quarter valued at approximately $56,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PARA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Eight research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Stock Performance

NASDAQ PARA opened at $10.84 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The business has a fifty day moving average of $10.61 and a 200-day moving average of $11.08. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 1.38 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the company posted $0.30 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts predict that Paramount Global will post 1.81 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.85%. Paramount Global’s dividend payout ratio (DPR) is currently -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.