Scotia Capital Inc. Lowers Position in Paramount Global (NASDAQ:PARA)

Scotia Capital Inc. lessened its stake in Paramount Global (NASDAQ:PARAFree Report) by 48.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,722 shares of the company’s stock after selling 272,932 shares during the period. Scotia Capital Inc.’s holdings in Paramount Global were worth $4,255,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PARA. VisionPoint Advisory Group LLC purchased a new stake in Paramount Global in the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC purchased a new stake in Paramount Global in the 4th quarter worth approximately $30,000. Archer Investment Corp purchased a new stake in Paramount Global in the 4th quarter worth approximately $30,000. NBC Securities Inc. purchased a new stake in Paramount Global in the 3rd quarter worth approximately $38,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Paramount Global by 55.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock valued at $38,000 after buying an additional 1,056 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

PARA has been the topic of a number of recent analyst reports. Argus lowered Paramount Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Wells Fargo & Company decreased their target price on Paramount Global from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Finally, Raymond James reissued a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.58.

Check Out Our Latest Analysis on PARA

Paramount Global Trading Up 0.8 %

Shares of PARA stock traded up $0.09 during trading hours on Friday, hitting $11.91. The company had a trading volume of 19,774,871 shares, compared to its average volume of 15,178,626. The company’s fifty day moving average is $12.03 and its 200 day moving average is $12.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $17.50. The stock has a market capitalization of $7.94 billion, a PE ratio of -79.39, a price-to-earnings-growth ratio of 0.36 and a beta of 1.74.

Paramount Global (NASDAQ:PARAGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. During the same period in the prior year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts expect that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Paramount Global’s dividend payout ratio is currently -133.32%.

About Paramount Global

(Free Report)

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.

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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