17,725 Shares in Paramount Global (NASDAQ:PARA) Acquired by Pitcairn Co.

Pitcairn Co. acquired a new stake in Paramount Global (NASDAQ:PARA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,725 shares of the company’s stock, valued at approximately $185,000.

Several other large investors have also recently added to or reduced their stakes in PARA. Allworth Financial LP grew its stake 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 valued at $25,000 after acquiring an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global during the 4th quarter worth approximately $31,000. Rakuten Securities Inc. increased its holdings in shares of Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Paramount Global in the fourth quarter valued at approximately $57,000. Finally, FNY Investment Advisers LLC boosted its stake in shares of Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after buying an additional 3,654 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Down 3.6 %

Shares of NASDAQ:PARA opened at $11.07 on Monday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The company has a market capitalization of $7.38 billion, a PE ratio of -1.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a fifty day moving average of $11.38 and a 200-day moving average of $10.94.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. On average, equities analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.81%. Paramount Global’s dividend payout ratio is presently -2.15%.

Analyst Ratings Changes

A number of research firms have commented on PARA. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Wednesday, April 2nd. Morgan Stanley boosted their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Guggenheim reiterated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and an average target price of $12.09.

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.