Ieq Capital LLC Acquires New Holdings in Paramount Global (NASDAQ:PARA)

Ieq Capital LLC bought a new stake in shares of Paramount Global (NASDAQ:PARAFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,915 shares of the company’s stock, valued at approximately $221,000.

Several other large investors have also recently bought and sold shares of the stock. Invesco Ltd. lifted its position in Paramount Global by 9.4% in the third quarter. Invesco Ltd. now owns 14,832,568 shares of the company’s stock worth $191,340,000 after purchasing an additional 1,272,851 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Paramount Global by 15.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company’s stock worth $171,567,000 after buying an additional 1,767,173 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of Paramount Global by 18.0% in the third quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock valued at $146,168,000 after buying an additional 1,731,714 shares during the period. Northern Trust Corp boosted its stake in Paramount Global by 1.9% during the third quarter. Northern Trust Corp now owns 5,304,103 shares of the company’s stock valued at $68,423,000 after buying an additional 96,952 shares in the last quarter. Finally, Armistice Capital LLC grew its holdings in Paramount Global by 10.2% during the third quarter. Armistice Capital LLC now owns 3,071,559 shares of the company’s stock worth $39,623,000 after acquiring an additional 283,559 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PARA shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Argus cut Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price target on shares of Paramount Global in a research note on Tuesday, April 9th. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.58.

View Our Latest Analysis on PARA

Paramount Global Trading Down 4.9 %

Shares of NASDAQ PARA opened at $12.02 on Friday. The business has a 50 day simple moving average of $11.95 and a 200 day simple moving average of $13.00. Paramount Global has a 52 week low of $10.12 and a 52 week high of $17.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19.

Paramount Global (NASDAQ:PARAGet Free Report) last posted its earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.34 by $0.28. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. As a group, sell-side analysts forecast that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.66%. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

About Paramount Global

(Free Report)

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.

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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