Y Intercept Hong Kong Ltd Has $295,000 Stake in Paramount Global (NASDAQ:PARA)

Y Intercept Hong Kong Ltd trimmed its stake in Paramount Global (NASDAQ:PARA) by 84.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,668 shares of the company’s stock after selling 139,030 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Paramount Global were worth $295,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in Paramount Global during the 4th quarter worth about $28,000. Ossiam grew its holdings in 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. Atlas Capital Advisors Inc. acquired a new stake in Paramount Global during the 4th quarter worth about $35,000. Resona Asset Management Co. Ltd. acquired a new stake in Paramount Global during the 4th quarter worth about $36,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Paramount Global during the 4th quarter worth about $45,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on PARA shares. Loop Capital increased their price target on Paramount Global from $10.00 to $11.00 and gave the stock a “sell” rating in a report on Friday, July 25th. Seaport Res Ptn cut Paramount Global from a “hold” rating to a “strong sell” rating in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday, April 2nd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $12.00 price target (down previously from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average target price of $11.60.

Paramount Global Trading Up 1.6%

NASDAQ:PARA opened at $13.25 on Wednesday. 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 stock has a market capitalization of $8.93 billion, a PE ratio of -1.61, a price-to-earnings-growth ratio of 3.95 and a beta of 1.19. The firm’s 50 day moving average is $12.46 and its 200 day moving average is $11.69. Paramount Global has a 12 month low of $9.95 and a 12 month high of $13.59.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data 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. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same period in the previous year, the business earned $0.62 EPS. Paramount Global’s revenue was down 6.4% compared to the same quarter last year. Sell-side analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.51%. Paramount Global’s dividend payout ratio is -2.43%.

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.