One68 Global Capital LLC Takes Position in Paramount Global (NASDAQ:PARA)

One68 Global Capital LLC purchased a new position in Paramount Global (NASDAQ:PARA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 240,634 shares of the company’s stock, valued at approximately $2,517,000. Paramount Global makes up 1.3% of One68 Global Capital LLC’s investment portfolio, making the stock its 17th largest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Paramount Global during the third quarter valued at $196,000. Franklin Resources Inc. boosted its position in Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock valued at $2,029,000 after buying an additional 174,514 shares in the last quarter. Retirement Systems of Alabama grew its stake in Paramount Global by 12.8% during the third quarter. Retirement Systems of Alabama now owns 179,384 shares of the company’s stock worth $1,905,000 after buying an additional 20,335 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Paramount Global by 22.3% during the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock worth $7,258,000 after buying an additional 124,740 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Paramount Global by 74.0% in the fourth quarter. GAMMA Investing LLC now owns 10,842 shares of the company’s stock valued at $113,000 after acquiring an additional 4,611 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PARA has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. StockNews.com initiated coverage on shares of Paramount Global in a research report on Wednesday, April 23rd. They set a “hold” rating on the stock. Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Finally, UBS Group reduced their price objective on Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.92.

Paramount Global Stock Performance

Shares of PARA stock opened at $11.75 on Wednesday. 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 has a 50-day simple moving average of $11.40 and a 200 day simple moving average of $11.00. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -1.43, a PEG ratio of 1.68 and a beta of 1.31.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) 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 analyst estimates of $8.07 billion. On average, sell-side analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

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.