Sanctuary Advisors LLC Buys Shares of 22,022 Paramount Global (NASDAQ:PARA)

Sanctuary Advisors LLC bought a new position in Paramount Global (NASDAQ:PARA) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 22,022 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new position in Paramount Global in the second quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paramount Global during the 2nd quarter worth $43,000. SageView Advisory Group LLC bought a new position in shares of Paramount Global during the 1st quarter valued at $56,000. GAMMA Investing LLC lifted its stake 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. Finally, Bessemer Group Inc. boosted its holdings in Paramount Global by 40.9% in the first quarter. Bessemer Group Inc. now owns 5,868 shares of the company’s stock worth $68,000 after purchasing an additional 1,704 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Up 1.2 %

PARA stock opened at $10.45 on Friday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $10.54 and its 200-day moving average is $11.19. The firm has a market cap of $6.96 billion, a P/E ratio of -69.67, a P/E/G ratio of 0.58 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.14 by $0.40. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. Equities analysts anticipate 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. Investors of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.91%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is -133.33%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PARA. The Goldman Sachs Group assumed coverage on Paramount Global in a research report on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price target for the company. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Guggenheim lowered their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Finally, Evercore ISI cut their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.33.

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.