Annandale Capital LLC Sells 253,958 Shares of Paramount Global (NASDAQ:PARA)

Annandale Capital LLC decreased its stake in Paramount Global (NASDAQ:PARA) by 73.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 90,900 shares of the company’s stock after selling 253,958 shares during the quarter. Annandale Capital LLC’s holdings in Paramount Global were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PARA. Vanguard Group Inc. grew its stake in Paramount Global by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock valued at $701,242,000 after purchasing an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP boosted its holdings in shares of Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after buying an additional 1,593,579 shares during the last quarter. State Street Corp grew its stake in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC increased its holdings in Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock worth $162,731,000 after buying an additional 724,565 shares during the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new stake in Paramount Global in the fourth quarter valued at $146,230,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Price Performance

NASDAQ:PARA opened at $11.07 on Friday. 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 firm has a market cap of $7.38 billion, a price-to-earnings ratio of -1.35, a P/E/G ratio of 1.68 and a beta of 1.60. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The firm’s 50-day simple moving average is $11.38 and its 200 day simple moving average is $10.93.

Paramount Global (NASDAQ:PARA) last released 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 analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, sell-side analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. StockNews.com initiated coverage on Paramount Global in a research report on Sunday, March 30th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday. Morgan Stanley boosted their target price on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.