SeaCrest Wealth Management LLC Trims Position in Paramount Global (NASDAQ:PARA)

SeaCrest Wealth Management LLC reduced its position in Paramount Global (NASDAQ:PARA) by 7.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,121 shares of the company’s stock after selling 1,814 shares during the period. SeaCrest Wealth Management LLC’s holdings in Paramount Global were worth $256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors LLC acquired a new position in shares of Paramount Global during the 2nd quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paramount Global in the second quarter valued at approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Paramount Global by 518.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after purchasing an additional 4,100 shares during the last quarter. SageView Advisory Group LLC purchased a new position in Paramount Global during the first quarter worth approximately $56,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after purchasing an additional 1,067 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. The Goldman Sachs Group initiated coverage on Paramount Global in a report on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price for the company. 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. Finally, Wolfe Research cut shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research report on Tuesday, July 9th. Nine research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.33.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.45 on Friday. The firm has a 50-day moving average of $10.54 and a two-hundred day moving average of $11.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market cap of $6.97 billion, a P/E ratio of -1.34, a PEG ratio of 0.58 and a beta of 1.75. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. On average, research analysts expect that Paramount Global will post 1.56 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is currently -2.57%.

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.