1,940,000 Shares in Paramount Global (NASDAQ:PARA) Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired 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 and Exchange Commission (SEC). The institutional investor acquired 1,940,000 shares of the company’s stock, valued at approximately $20,292,000. Paramount Global makes up 0.8% of New Age Alpha Advisors LLC’s portfolio, making the stock its 15th largest holding. New Age Alpha Advisors LLC owned approximately 0.29% of Paramount Global as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PARA. Allworth Financial LP grew its holdings in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Paramount Global during the fourth quarter valued at $31,000. Rakuten Securities Inc. boosted its holdings in shares of Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after buying an additional 2,019 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Paramount Global during the 4th quarter valued at about $57,000. Finally, FNY Investment Advisers LLC lifted its holdings in Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after acquiring an additional 3,654 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PARA. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com assumed coverage on Paramount Global in a report on Saturday, March 22nd. They issued a “hold” rating for the company. Finally, Morgan Stanley lifted their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Down 1.5 %

Shares of Paramount Global stock opened at $11.68 on Friday. The business has a fifty day simple moving average of $11.25 and a 200 day simple moving average of $10.87. The stock has a market cap of $7.79 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. 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 12 month low of $9.54 and a 12 month high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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. Research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. Paramount Global’s payout ratio is -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.