Athos Capital Ltd Purchases Shares of 110,200 Paramount Global (NASDAQ:PARA)

Athos Capital Ltd purchased a new stake in Paramount Global (NASDAQ:PARA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 110,200 shares of the company’s stock, valued at approximately $1,170,000. Paramount Global accounts for about 0.4% of Athos Capital Ltd’s portfolio, making the stock its 18th largest position.

A number of other hedge funds have also recently made changes to their positions in PARA. Blue Trust Inc. boosted its position in shares of Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares during the period. Huntington National Bank lifted its position in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Paramount Global in the second quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paramount Global during the 2nd quarter worth approximately $43,000. Finally, Kennebec Savings Bank acquired a new stake in Paramount Global during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of PARA opened at $10.85 on Monday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The company’s 50 day simple moving average is $10.70 and its 200 day simple moving average is $10.92. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.31 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

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

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PARA. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Guggenheim lowered their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. Finally, Macquarie reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.40.

Paramount Global 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.