Paramount Global (NASDAQ:PARA) Shares Bought by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its holdings in Paramount Global (NASDAQ:PARA) by 15.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,408 shares of the company’s stock after buying an additional 18,699 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Paramount Global were worth $1,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PARA. Intech Investment Management LLC acquired a new position in Paramount Global during the third quarter worth $117,000. Daiwa Securities Group Inc. lifted its stake in Paramount Global by 26.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 71,874 shares of the company’s stock valued at $763,000 after buying an additional 15,053 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Paramount Global by 88.4% in the 3rd quarter. Fisher Asset Management LLC now owns 21,723 shares of the company’s stock valued at $231,000 after buying an additional 10,192 shares in the last quarter. Bridgewater Associates LP boosted its holdings in Paramount Global by 50.7% in the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after buying an additional 110,357 shares during the last quarter. Finally, Glenmede Trust Co. NA acquired a new stake in Paramount Global in the 3rd quarter worth about $127,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Guggenheim reaffirmed a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. StockNews.com initiated coverage on shares of Paramount Global in a report on Sunday. They set a “hold” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.10.

Paramount Global Stock Performance

Paramount Global stock opened at $11.56 on Monday. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. 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 firm has a 50 day simple moving average of $11.28 and a 200-day simple moving average of $10.90. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.73%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

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.