MML Investors Services LLC Has $541,000 Stock Holdings in Paramount Global (NASDAQ:PARA)

MML Investors Services LLC reduced its holdings in shares of Paramount Global (NASDAQ:PARA) by 44.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,944 shares of the company’s stock after selling 41,226 shares during the period. MML Investors Services LLC’s holdings in Paramount Global were worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PARA. Orion Portfolio Solutions LLC acquired a new stake in Paramount Global during the third quarter valued at approximately $692,000. Kovitz Investment Group Partners LLC lifted its position in shares of Paramount Global by 12.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 38,751 shares of the company’s stock worth $412,000 after buying an additional 4,200 shares during the period. Whitebox Advisors LLC grew its position in Paramount Global by 32.3% in the third quarter. Whitebox Advisors LLC now owns 163,723 shares of the company’s stock valued at $1,739,000 after acquiring an additional 40,000 shares during the period. State Street Corp raised its stake in Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after acquiring an additional 6,848,037 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Paramount Global by 77.4% during the third quarter. Quantinno Capital Management LP now owns 34,316 shares of the company’s stock valued at $364,000 after acquiring an additional 14,969 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Up 0.8 %

Shares of NASDAQ PARA opened at $10.66 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $7.11 billion, a PE ratio of -1.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. The firm’s 50-day moving average is $10.84 and its 200-day moving average is $10.80. Paramount Global has a 1 year low of $9.54 and a 1 year high of $15.70.

Paramount Global (NASDAQ:PARA) last released its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The firm 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 business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Equities analysts expect that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Announces Dividend

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 issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is currently -2.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PARA. Guggenheim dropped their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Macquarie reaffirmed an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average price target of $12.43.

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.