Virtu Financial LLC Purchases Shares of 18,425 Paramount Global (NASDAQ:PARA)

Virtu Financial LLC acquired a new position in shares of Paramount Global (NASDAQ:PARA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,425 shares of the company’s stock, valued at approximately $196,000.

A number of other hedge funds have also modified their holdings of PARA. Blue Trust Inc. boosted its position in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank boosted its holdings in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in Paramount Global in the second quarter valued at $35,000. Ashton Thomas Private Wealth LLC bought a new position in Paramount Global in the second quarter valued at $43,000. Finally, Kennebec Savings Bank bought a new stake in Paramount Global during the 3rd quarter worth about $47,000. 73.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PARA shares. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Guggenheim decreased their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average target price of $12.43.

Paramount Global Price Performance

Paramount Global stock opened at $10.68 on Thursday. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -1.30, a PEG ratio of 1.35 and a beta of 1.71. The stock’s 50 day moving average is $10.83 and its 200-day moving average is $10.83. 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 has a 12 month low of $9.54 and a 12 month high of $16.28.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 EPS. Equities research analysts expect that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

Paramount Global Company 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.