Gamco Investors INC. ET AL Has $3.49 Million Holdings in Paramount Global (NASDAQ:PARA)

Gamco Investors INC. ET AL decreased its stake in shares of Paramount Global (NASDAQ:PARA) by 22.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 333,784 shares of the company’s stock after selling 97,335 shares during the period. Gamco Investors INC. ET AL owned 0.05% of Paramount Global worth $3,491,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Allworth Financial LP grew its position in shares of Paramount Global by 140.1% in the fourth 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. bought a new stake in Paramount Global during the 4th quarter valued at approximately $31,000. Rakuten Securities Inc. grew its holdings in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after buying an additional 2,019 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Paramount Global in the 4th quarter worth approximately $35,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Paramount Global in the fourth quarter valued at approximately $36,000. 73.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Paramount Global in a research report on Tuesday. They set a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reiterated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley upped their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.92.

Paramount Global Price Performance

Paramount Global stock opened at $10.94 on Friday. The business has a 50 day simple moving average of $11.37 and a 200 day simple moving average of $10.95. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $7.30 billion, a PE ratio of -1.33, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. On average, sell-side analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.83%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

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.