SOL Capital Management CO Increases Holdings in Paramount Global (NASDAQ:PARA)

SOL Capital Management CO grew its holdings in shares of Paramount Global (NASDAQ:PARA) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,874 shares of the company’s stock after purchasing an additional 1,270 shares during the quarter. SOL Capital Management CO’s holdings in Paramount Global were worth $2,175,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of 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 during the period. Mattson Financial Services LLC bought a new position in shares of Paramount Global during the 4th quarter worth $28,000. Ossiam grew its stake in shares of Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after acquiring an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global during the 4th quarter worth $31,000. Finally, Rakuten Securities Inc. grew its stake in shares of Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after acquiring an additional 2,019 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PARA shares. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. UBS Group cut their target price on Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley decreased their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Benchmark lowered their price target on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Guggenheim reissued a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.50.

Paramount Global Trading Up 0.1%

Shares of Paramount Global stock opened at $12.22 on Thursday. Paramount Global has a 12-month low of $9.87 and a 12-month high of $12.54. The company has a market cap of $8.24 billion, a price-to-earnings ratio of -1.48, a PEG ratio of 3.69 and a beta of 1.19. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $11.81 and its 200-day moving average price is $11.32.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. Paramount Global’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. On average, equities analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th 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 16th. Paramount Global’s dividend 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.