125,700 Shares in Paramount Global (NASDAQ:PARA) Acquired by Yakira Capital Management Inc.

Yakira Capital Management Inc. purchased a new stake in Paramount Global (NASDAQ:PARA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 125,700 shares of the company’s stock, valued at approximately $1,315,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Paramount Global by 140.1% in the 4th 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 in the last quarter. Insight Inv LLC boosted its stake in Paramount Global by 9.8% in the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after acquiring an additional 1,825 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Paramount Global by 9.6% during the third quarter. Rockefeller Capital Management L.P. now owns 21,146 shares of the company’s stock worth $225,000 after purchasing an additional 1,845 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its position in shares of Paramount Global by 3.8% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company’s stock worth $531,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in shares of Paramount Global by 7.0% in the 4th quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock valued at $293,000 after purchasing an additional 1,874 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $11.07 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $11.38 and a 200 day moving average price of $10.93. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The company has a market cap of $7.38 billion, a P/E ratio of -1.35, a PEG ratio of 1.68 and a beta of 1.31.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Research analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.81%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Morgan Stanley upped their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average target price of $12.09.

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.