Janus Henderson Group PLC Lowers Position in Paramount Global (NASDAQ:PARA)

Janus Henderson Group PLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,977 shares of the company’s stock after selling 13,807 shares during the quarter. Janus Henderson Group PLC’s holdings in Paramount Global were worth $711,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Lingotto Investment Management LLP grew its stake in Paramount Global by 628.8% in the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after buying an additional 25,829,185 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after acquiring an additional 1,992,576 shares during the last quarter. AQR Capital Management LLC grew its position in Paramount Global by 602.8% in the second quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after acquiring an additional 1,529,719 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after acquiring an additional 1,030,592 shares in the last quarter. Finally, Shah Capital Management increased its stake in Paramount Global by 1,019.9% in the second quarter. Shah Capital Management now owns 1,121,000 shares of the company’s stock valued at $11,647,000 after acquiring an additional 1,020,900 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.22 on Friday. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of -1.36, a PEG ratio of 1.35 and a beta of 1.71. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 1 year low of $9.54 and a 1 year high of $16.83. The firm’s 50-day moving average is $10.81 and its 200 day moving average is $10.85.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results 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 analysts’ expectations of $6.94 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts anticipate that Paramount Global will post 1.86 EPS 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 paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -2.43%.

Wall Street Analyst Weigh In

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

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.