GSA Capital Partners LLP Raises Stock Holdings in Paramount Global (NASDAQ:PARA)

GSA Capital Partners LLP boosted its stake in shares of Paramount Global (NASDAQ:PARA) by 46.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,924 shares of the company’s stock after buying an additional 27,709 shares during the quarter. GSA Capital Partners LLP’s holdings in Paramount Global were worth $934,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. ProShare Advisors LLC boosted its position in shares of Paramount Global by 146.5% during the 1st quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock worth $1,787,000 after purchasing an additional 90,262 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Paramount Global by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after buying an additional 34,541 shares during the period. Financial Counselors Inc. grew its stake in shares of Paramount Global by 6.9% in the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after buying an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Paramount Global by 33.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after buying an additional 103,103 shares during the period. Finally, Hoertkorn Richard Charles lifted its stake in Paramount Global by 38.1% during the 3rd quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock worth $2,354,000 after acquiring an additional 61,191 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Macquarie reaffirmed an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. 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 research note on Monday, November 11th. Finally, Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. Eight equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.40.

Paramount Global Trading Down 4.5 %

NASDAQ PARA opened at $10.84 on Friday. The firm’s fifty day moving average price is $10.61 and its 200 day moving average price is $11.08. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 1.38 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, sell-side analysts expect that Paramount Global will post 1.81 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is currently -2.43%.

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.