Financial Engines Advisors L.L.C. Purchases New Position in Paramount Global (NASDAQ:PARA)

Financial Engines Advisors L.L.C. acquired a new position in Paramount Global (NASDAQ:PARA) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 12,154 shares of the company’s stock, valued at approximately $127,000.

A number of other hedge funds have also bought and sold shares of PARA. Allworth Financial LP boosted its holdings in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global in the 4th quarter worth about $31,000. Rakuten Securities Inc. grew its holdings in Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after buying an additional 2,019 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Paramount Global during the fourth quarter valued at about $57,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after buying an additional 3,654 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Performance

Paramount Global stock opened at $11.56 on Friday. The firm has a fifty day simple moving average of $11.28 and a two-hundred day simple moving average of $10.88. 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 twelve month low of $9.54 and a twelve month high of $14.54. The company has a market capitalization of $7.71 billion, a PE ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60.

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

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PARA shares. StockNews.com started coverage on shares of Paramount Global in a research note on Saturday, March 22nd. They set a “hold” rating for the company. Morgan Stanley upped their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.10.

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.