Cambridge Financial Group Inc. Grows Holdings in Paramount Global (NASDAQ:PARA)

Cambridge Financial Group Inc. increased its holdings in shares of Paramount Global (NASDAQ:PARA) by 41.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 382,437 shares of the company’s stock after acquiring an additional 112,292 shares during the quarter. Paramount Global makes up about 2.8% of Cambridge Financial Group Inc.’s holdings, making the stock its 25th largest position. Cambridge Financial Group Inc. owned about 0.06% of Paramount Global worth $5,656,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PARA. VisionPoint Advisory Group LLC bought a new position in Paramount Global during the third quarter worth about $25,000. Anchor Investment Management LLC purchased a new position in Paramount Global in the 4th quarter valued at approximately $30,000. Archer Investment Corp bought a new stake in Paramount Global during the 4th quarter valued at $30,000. WFA of San Diego LLC lifted its position in shares of Paramount Global by 635.0% during the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Paramount Global by 55.1% in the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after acquiring an additional 1,056 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Down 7.0 %

Paramount Global stock traded down $0.97 on Friday, hitting $12.89. 67,049,331 shares of the stock traded hands, compared to its average volume of 24,884,946. The business’s fifty day simple moving average is $11.55 and its 200 day simple moving average is $12.89. The firm has a market cap of $8.41 billion, a P/E ratio of -85.93, a price-to-earnings-growth ratio of 0.39 and a beta of 1.74. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. Paramount Global has a 1 year low of $10.12 and a 1 year high of $19.04.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. As a group, sell-side analysts forecast that Paramount Global will post 1.32 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. lowered their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Morgan Stanley reduced their target price on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Finally, Seaport Res Ptn lowered Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.58.

About Paramount Global

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.