OMERS ADMINISTRATION Corp Purchases 4,156 Shares of Paramount Global (NASDAQ:PARA)

OMERS ADMINISTRATION Corp boosted its stake in shares of Paramount Global (NASDAQ:PARA) by 24.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,976 shares of the company’s stock after buying an additional 4,156 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Paramount Global were worth $219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Paramount Global by 1.1% during the 4th 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 lifted its holdings in Paramount Global by 3.7% during the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after buying an additional 1,593,579 shares in the last quarter. Invesco Ltd. lifted its holdings in Paramount Global by 5.7% during the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock valued at $215,413,000 after buying an additional 1,119,314 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Paramount Global by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock valued at $162,731,000 after buying an additional 724,565 shares in the last quarter. Finally, Ariel Investments LLC increased its position in Paramount Global by 3.2% during the 4th quarter. Ariel Investments LLC now owns 14,663,907 shares of the company’s stock valued at $153,384,000 after purchasing an additional 460,539 shares during the period. Institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PARA shares. Benchmark cut their target price on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Guggenheim reissued a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research report 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 target price on the stock. in a research report on Wednesday, April 2nd. UBS Group cut their target price on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Finally, StockNews.com began coverage on shares of Paramount Global in a research report on Saturday. They set a “hold” rating on the stock. Six analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.58.

Paramount Global Stock Up 0.8%

Shares of Paramount Global stock opened at $11.87 on Wednesday. The firm’s 50 day moving average price is $11.45 and its 200-day moving average price is $11.13. The company has a market cap of $7.96 billion, a P/E ratio of -1.44, a PEG ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52-week low of $9.54 and a 52-week high of $13.05.

Paramount Global (NASDAQ:PARA) last released its earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. On average, sell-side analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

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.