Quinn Opportunity Partners LLC Decreases Stake in Paramount Global (NASDAQ:PARA)

Quinn Opportunity Partners LLC lessened its stake in Paramount Global (NASDAQ:PARA) by 43.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,554 shares of the company’s stock after selling 16,500 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Paramount Global were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PARA. Vanguard Group Inc. increased its holdings in Paramount Global by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock valued at $701,242,000 after buying an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP increased its stake in Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after purchasing an additional 1,593,579 shares in the last quarter. Invesco Ltd. raised its holdings in Paramount Global by 5.7% during the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock worth $215,413,000 after purchasing an additional 1,119,314 shares during the last quarter. Geode Capital Management LLC boosted its position in Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock worth $162,731,000 after purchasing an additional 724,565 shares in the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new stake in Paramount Global in the fourth quarter valued at $146,230,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a report on Wednesday, April 2nd. Morgan Stanley raised their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Finally, StockNews.com began coverage on Paramount Global in a report on Monday, April 7th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.09.

Paramount Global Stock Performance

Paramount Global stock opened at $10.69 on Friday. The stock has a fifty day moving average price of $11.36 and a 200 day moving average price of $10.95. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The firm has a market capitalization of $7.13 billion, a P/E ratio of -1.30, a PEG ratio of 1.68 and a beta of 1.31. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

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

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global’s dividend payout ratio is currently -2.15%.

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.