Korea Investment CORP Decreases Position in Paramount Global (NASDAQ:PARA)

Korea Investment CORP reduced its stake in Paramount Global (NASDAQ:PARA) by 88.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,910 shares of the company’s stock after selling 192,617 shares during the period. Korea Investment CORP’s holdings in Paramount Global were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Paramount Global during the fourth quarter worth about $31,000. Rakuten Securities Inc. lifted its holdings in shares of Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after purchasing an additional 2,019 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Paramount Global during the 4th quarter worth approximately $57,000. Finally, FNY Investment Advisers LLC grew its stake in Paramount Global by 102.4% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analysts Set New Price Targets

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

Paramount Global Trading Down 1.9 %

Shares of PARA stock opened at $11.73 on Wednesday. The business’s fifty day moving average price is $11.34 and its 200 day moving average price is $10.92. The firm has a market capitalization of $7.82 billion, a PE ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.60. 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 $14.54.

Paramount Global (NASDAQ:PARA) last posted its quarterly 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). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. As a group, sell-side analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. Paramount Global’s payout ratio is -2.15%.

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.