Paramount Global (NASDAQ:PARA) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. reduced its stake in shares of Paramount Global (NASDAQ:PARA) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,571 shares of the company’s stock after selling 2,222 shares during the quarter. Moors & Cabot Inc.’s holdings in Paramount Global were worth $3,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lingotto Investment Management LLP boosted its position in Paramount Global by 628.8% during the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after purchasing an additional 25,829,185 shares during the period. Vanguard Group Inc. increased its stake in shares of Paramount Global by 6.5% in the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after buying an additional 3,803,928 shares in the last quarter. Jane Street Group LLC increased its position in Paramount Global by 323.5% in the first quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock worth $32,417,000 after purchasing an additional 2,103,938 shares during the period. Ariel Investments LLC boosted its holdings in Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after buying an additional 1,992,576 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Paramount Global by 602.8% during the second quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after buying an additional 1,529,719 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Trading Up 2.4 %

Shares of PARA stock opened at $10.58 on Thursday. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average price of $10.64 and a 200 day moving average price of $11.02.

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

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is currently -2.43%.

Wall Street Analysts Forecast Growth

PARA has been the topic of a number of recent research reports. Guggenheim dropped their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.40.

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.