Cwm LLC Trims Position in Paramount Global (NASDAQ:PARA)

Cwm LLC lowered its position in shares of Paramount Global (NASDAQ:PARA) by 34.2% during the third quarter, Holdings Channel reports. The fund owned 11,616 shares of the company’s stock after selling 6,035 shares during the quarter. Cwm LLC’s holdings in Paramount Global were worth $123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Paramount Global by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after acquiring an additional 934 shares during the period. Great Valley Advisor Group Inc. increased its position in Paramount Global by 5.3% during the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after purchasing an additional 1,002 shares during the last quarter. Prestige Wealth Management Group LLC raised its stake in Paramount Global by 13.2% during the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after purchasing an additional 1,011 shares during the period. 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. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Paramount Global by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after buying an additional 1,356 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PARA. Guggenheim reduced their target price 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. Benchmark restated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Wolfe Research lowered shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective for the company. in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. Nine equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.33.

Paramount Global Stock Down 0.3 %

Shares of Paramount Global stock opened at $10.27 on Friday. The business has a 50-day moving average price of $10.52 and a 200 day moving average price of $11.13. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The firm has a market cap of $6.85 billion, a P/E ratio of -1.32, a P/E/G ratio of 0.56 and a beta of 1.75. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share 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 business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. On average, sell-side analysts forecast that Paramount Global will post 1.58 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is presently -2.57%.

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.