Paramount Global (NASDAQ:PARA) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in Paramount Global (NASDAQ:PARA) by 77.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,316 shares of the company’s stock after purchasing an additional 14,969 shares during the quarter. Quantinno Capital Management LP’s holdings in Paramount Global were worth $364,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PARA. Blue Trust Inc. grew its position in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank lifted its stake in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Paramount Global during the 2nd quarter worth about $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in Paramount Global during the 2nd quarter worth approximately $43,000. Finally, Kennebec Savings Bank purchased a new position in Paramount Global in the third quarter valued at approximately $47,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $11.22 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $16.83. The business has a 50 day moving average price of $10.81 and a two-hundred day moving average price of $10.85. The firm has a market cap of $7.48 billion, a PE ratio of -1.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last released its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. Sell-side analysts expect that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given 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 payout ratio is currently -2.43%.

Analyst Ratings Changes

PARA has been the subject of several research reports. Guggenheim decreased their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Macquarie restated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Paramount Global currently has an average rating of “Hold” and a consensus target price of $12.43.

Paramount Global Company 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.