Seven Mile Advisory Makes New Investment in Paramount Global (NASDAQ:PARA)

Seven Mile Advisory purchased a new position in Paramount Global (NASDAQ:PARA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,772 shares of the company’s stock, valued at approximately $186,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Paramount Global in the 4th quarter valued at $31,000. Rakuten Securities Inc. boosted its holdings in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after acquiring an additional 2,019 shares during the period. SBI Securities Co. Ltd. acquired a new position in Paramount Global in the 4th quarter valued at about $57,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of Paramount Global by 102.4% in the 4th 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 period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PARA shares. Morgan Stanley increased their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. StockNews.com began coverage on shares of Paramount Global in a research report on Sunday. They set a “hold” rating for the company. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Paramount Global has a consensus rating of “Hold” and an average target price of $12.10.

Paramount Global Trading Down 1.0 %

Shares of PARA opened at $11.56 on Monday. The business’s 50-day moving average price is $11.28 and its 200 day moving average price is $10.90. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $7.71 billion, a P/E ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data 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. Analysts expect 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 will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.73%. Paramount Global’s dividend payout ratio (DPR) is currently -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.