Marathon Trading Investment Management LLC Trims Holdings in Paramount Global (NASDAQ:PARA)

Marathon Trading Investment Management LLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA) by 41.8% in the third quarter, HoldingsChannel reports. The firm owned 23,020 shares of the company’s stock after selling 16,525 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in Paramount Global were worth $244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake in Paramount Global by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after buying an additional 934 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Paramount Global by 5.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after purchasing an additional 1,002 shares during the period. Carson Advisory Inc. boosted its position in shares of Paramount Global by 1.9% during the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after purchasing an additional 1,004 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in Paramount Global by 13.2% in the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after purchasing an additional 1,011 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Paramount Global by 22.8% in the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Down 4.5 %

Shares of Paramount Global stock opened at $10.84 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company’s 50 day moving average is $10.61 and its 200 day moving average is $11.08.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. Research analysts predict that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.85%. Paramount Global’s payout ratio is -2.43%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PARA. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim lowered their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and an average target price of $12.40.

Paramount Global Company 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.