AM Squared Ltd Has $206,000 Stake in Paramount Global (NASDAQ:PARA)

AM Squared Ltd increased its position in Paramount Global (NASDAQ:PARA) by 32.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,400 shares of the company’s stock after purchasing an additional 4,800 shares during the period. Paramount Global comprises about 0.5% of AM Squared Ltd’s investment portfolio, making the stock its 18th biggest holding. AM Squared Ltd’s holdings in Paramount Global were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Paramount Global by 3.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after purchasing an additional 934 shares during the period. Great Valley Advisor Group Inc. boosted its stake in Paramount Global by 5.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after purchasing an additional 1,002 shares during the period. Carson Advisory Inc. boosted its stake in Paramount Global by 1.9% in the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after purchasing an additional 1,004 shares during the period. Prestige Wealth Management Group LLC boosted its stake in Paramount Global by 13.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after purchasing an additional 1,011 shares during the period. Finally, GAMMA Investing LLC lifted its position in Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after buying an additional 1,067 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Down 4.5 %

NASDAQ PARA opened at $10.84 on Friday. 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’s fifty day moving average is $10.61 and its two-hundred day moving average is $11.08. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. On average, sell-side analysts anticipate that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.85%. Paramount Global’s dividend payout ratio is -2.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Guggenheim cut their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.40.

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.