Valeo Financial Advisors LLC Has $144,000 Stock Position in Paramount Global (NASDAQ:PARA)

Valeo Financial Advisors LLC cut its stake in Paramount Global (NASDAQ:PARA) by 23.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 13,894 shares of the company’s stock after selling 4,270 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Paramount Global were worth $144,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PARA. Archer Investment Corp bought a new stake in shares of Paramount Global in the 4th quarter worth about $30,000. Friedenthal Financial bought a new stake in Paramount Global during the fourth quarter worth about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Paramount Global during the fourth quarter worth approximately $44,000. SageView Advisory Group LLC acquired a new position in shares of Paramount Global in the 1st quarter worth approximately $56,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Paramount Global during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Up 1.2 %

Shares of NASDAQ:PARA traded up $0.12 during mid-day trading on Friday, reaching $10.33. The stock had a trading volume of 5,730,292 shares, compared to its average volume of 17,712,268. The firm has a 50 day simple moving average of $11.10 and a two-hundred day simple moving average of $11.79. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The firm has a market cap of $6.88 billion, a PE ratio of -69.33, a price-to-earnings-growth ratio of 0.76 and a beta of 1.78. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.40. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. On average, research analysts predict that Paramount Global will post 1.34 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.94%. Paramount Global’s payout ratio is -133.32%.

Analyst Ratings Changes

PARA has been the topic of several research analyst reports. Seaport Res Ptn cut Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Friday. The Goldman Sachs Group started coverage on shares of Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 price target on the stock. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $10.00 to $11.00 in a research report on Friday. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Ten research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.94.

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.