Xponance Inc. Sells 16,019 Shares of Paramount Global (NASDAQ:PARA)

Xponance Inc. lowered its position in Paramount Global (NASDAQ:PARA) by 18.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,866 shares of the company’s stock after selling 16,019 shares during the quarter. Xponance Inc.’s holdings in Paramount Global were worth $1,063,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PARA. DnB Asset Management AS lifted its position in shares of Paramount Global by 6.6% in the 3rd quarter. DnB Asset Management AS now owns 106,114 shares of the company’s stock worth $1,369,000 after acquiring an additional 6,526 shares during the period. SG Americas Securities LLC raised its holdings in shares of Paramount Global by 433.6% in the 3rd quarter. SG Americas Securities LLC now owns 146,642 shares of the company’s stock worth $1,892,000 after buying an additional 119,159 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Paramount Global in the 3rd quarter worth approximately $633,000. Oak Thistle LLC acquired a new position in shares of Paramount Global in the 3rd quarter worth approximately $253,000. Finally, Czech National Bank raised its holdings in shares of Paramount Global by 40.4% in the 3rd quarter. Czech National Bank now owns 84,282 shares of the company’s stock worth $1,087,000 after buying an additional 24,263 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

NASDAQ:PARA opened at $12.68 on Thursday. Paramount Global has a 12-month low of $10.12 and a 12-month high of $24.00. 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 stock’s fifty day simple moving average is $11.50 and its 200-day simple moving average is $12.88.

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

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.58%. Paramount Global’s dividend payout ratio is currently -19.61%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Benchmark dropped their target price on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 29th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Raymond James reissued a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price target on shares of Paramount Global in a report on Tuesday, April 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Paramount Global in a report on Thursday, February 29th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.79.

Paramount Global 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.