42,036 Shares in Paramount Global (NASDAQ:PARA) Acquired by Duality Advisers LP

Duality Advisers LP bought a new position in Paramount Global (NASDAQ:PARA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,036 shares of the company’s stock, valued at approximately $622,000.

Other institutional investors also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC bought a new position in Paramount Global in the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC bought a new position in Paramount Global in the 4th quarter worth approximately $30,000. Archer Investment Corp bought a new position in Paramount Global in the 4th quarter worth approximately $30,000. WFA of San Diego LLC increased its position in Paramount Global by 635.0% in the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after buying an additional 2,286 shares during the period. Finally, Cornerstone Planning Group LLC increased its position in Paramount Global by 55.1% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after buying an additional 1,056 shares during the period. 73.00% of the stock is owned by institutional investors.

Paramount Global Price Performance

Paramount Global stock opened at $12.18 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The firm has a market cap of $7.95 billion, a P/E ratio of -11.94, a P/E/G ratio of 0.45 and a beta of 1.77. The business’s fifty day moving average is $11.49 and its two-hundred day moving average is $12.88. Paramount Global has a 52 week low of $10.12 and a 52 week high of $24.00.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The company had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 earnings per share. Equities research analysts forecast that Paramount Global will post 1.2 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is currently -19.61%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Moffett Nathanson upgraded Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a research report on Tuesday, January 9th. Benchmark lowered their price objective on Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Paramount Global in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lowered their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.79.

About Paramount Global

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.