4,009 Shares in Paramount Global (NASDAQ:PARA) Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in Paramount Global (NASDAQ:PARA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,009 shares of the company’s stock, valued at approximately $59,000.

Other institutional investors also recently modified their holdings of the company. VisionPoint Advisory Group LLC acquired a new position in Paramount Global in the third quarter valued at $25,000. Archer Investment Corp acquired a new position in Paramount Global in the fourth quarter valued at $30,000. Anchor Investment Management LLC acquired a new position in Paramount Global in the fourth quarter valued at $30,000. WFA of San Diego LLC lifted its holdings in Paramount Global by 635.0% in the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after buying an additional 2,286 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of Paramount Global during the fourth quarter valued at about $39,000. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PARA has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Paramount Global in a report on Thursday, February 29th. Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a report on Tuesday, January 9th. Redburn Atlantic lowered shares of Paramount Global from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $17.00 to $11.00 in a report on Thursday, January 11th. Finally, Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and an average price target of $13.79.

Paramount Global Trading Down 1.9 %

Shares of PARA stock opened at $11.95 on Friday. Paramount Global has a 52-week low of $10.12 and a 52-week high of $24.00. The company has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $12.88. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of -11.94, a PEG ratio of 0.45 and a beta of 1.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32.

Paramount Global (NASDAQ:PARA) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The firm had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same period in the prior year, the firm earned $0.08 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Research analysts anticipate that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is currently -19.61%.

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.