Metis Global Partners LLC Has $512,000 Position in Paramount Global (NASDAQ:PARA)

Metis Global Partners LLC grew its holdings in Paramount Global (NASDAQ:PARA) by 17.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,184 shares of the company’s stock after buying an additional 7,050 shares during the quarter. Metis Global Partners LLC’s holdings in Paramount Global were worth $512,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lingotto Investment Management LLP boosted its stake in Paramount Global by 628.8% in the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Paramount Global by 6.5% during the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after acquiring an additional 3,803,928 shares during the period. Jane Street Group LLC boosted its stake in shares of Paramount Global by 323.5% in the 1st quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock valued at $32,417,000 after purchasing an additional 2,103,938 shares in the last quarter. Ariel Investments LLC grew its holdings in shares of Paramount Global by 16.5% in the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after purchasing an additional 1,992,576 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Paramount Global by 602.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after purchasing an additional 1,529,719 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on PARA. Benchmark restated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, Guggenheim lowered their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paramount Global has an average rating of “Hold” and an average target price of $12.40.

Paramount Global Trading Down 2.1 %

Shares of NASDAQ PARA opened at $10.61 on Tuesday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The firm has a market capitalization of $7.08 billion, a P/E ratio of -1.29, a P/E/G ratio of 1.31 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company’s 50 day simple moving average is $10.62 and its 200 day simple moving average is $11.04.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, analysts predict that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.89%. Paramount Global’s payout ratio is currently -2.43%.

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.