AlphaQuest LLC Purchases 24,756 Shares of Paramount Global (NASDAQ:PARA)

AlphaQuest LLC raised its position in shares of Paramount Global (NASDAQ:PARA) by 89.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,456 shares of the company’s stock after acquiring an additional 24,756 shares during the period. AlphaQuest LLC’s holdings in Paramount Global were worth $549,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PARA. Principal Financial Group Inc. boosted its holdings in shares of Paramount Global by 22.3% during the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock worth $7,258,000 after acquiring an additional 124,740 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Paramount Global in the third quarter valued at approximately $286,000. State of New Jersey Common Pension Fund D raised its position in shares of Paramount Global by 14.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 231,127 shares of the company’s stock valued at $2,455,000 after buying an additional 29,057 shares in the last quarter. Entropy Technologies LP raised its position in shares of Paramount Global by 28.6% in the third quarter. Entropy Technologies LP now owns 71,492 shares of the company’s stock valued at $759,000 after buying an additional 15,900 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Paramount Global by 46.0% in the third quarter. GSA Capital Partners LLP now owns 87,924 shares of the company’s stock valued at $934,000 after buying an additional 27,709 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Up 1.0 %

Shares of NASDAQ:PARA opened at $11.58 on Thursday. The firm has a market cap of $7.72 billion, a P/E ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. 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 12-month low of $9.54 and a 12-month high of $14.54. The business has a fifty day simple moving average of $11.01 and a 200 day simple moving average of $10.79.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Analyst Ratings Changes

PARA has been the subject of a number of analyst reports. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.10.

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.