Xponance Inc. Sells 33,050 Shares of Paramount Global (NASDAQ:PARA)

Xponance Inc. lowered its holdings in Paramount Global (NASDAQ:PARA) by 36.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,114 shares of the company’s stock after selling 33,050 shares during the quarter. Xponance Inc.’s holdings in Paramount Global were worth $597,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Allworth Financial LP increased its holdings in Paramount Global by 140.1% during the fourth 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. Rakuten Securities Inc. boosted its position in Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after acquiring an additional 2,019 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Paramount Global in the 4th quarter valued at $57,000. FNY Investment Advisers LLC raised its position in shares of Paramount Global by 102.4% in the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after acquiring an additional 3,654 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of Paramount Global during the 4th quarter worth $88,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com assumed coverage on Paramount Global in a research note on Saturday. They issued a “hold” rating on the stock. Morgan Stanley boosted 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. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Guggenheim reissued a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Down 0.3 %

Shares of PARA stock opened at $11.61 on Wednesday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The firm has a market capitalization of $7.74 billion, a PE ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. 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 stock’s 50-day simple moving average is $11.20 and its 200-day simple moving average is $10.86.

Paramount Global (NASDAQ:PARA) last posted its quarterly 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 business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Equities analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.72%. Paramount Global’s dividend payout ratio is presently -2.15%.

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.