Linden Thomas Advisory Services LLC Acquires 1,261 Shares of Paramount Global (NASDAQ:PARA)

Linden Thomas Advisory Services LLC grew its holdings in Paramount Global (NASDAQ:PARA) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,707 shares of the company’s stock after acquiring an additional 1,261 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Paramount Global were worth $706,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PARA. Duality Advisers LP acquired a new stake in Paramount Global during the 4th quarter worth approximately $622,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Paramount Global by 1.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,971 shares of the company’s stock worth $724,000 after purchasing an additional 897 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Paramount Global during the 4th quarter worth about $201,000. Lindbrook Capital LLC raised its stake in shares of Paramount Global by 102.1% in the 4th quarter. Lindbrook Capital LLC now owns 4,308 shares of the company’s stock valued at $64,000 after purchasing an additional 2,176 shares during the period. Finally, abrdn plc lifted its holdings in shares of Paramount Global by 20.2% in the fourth quarter. abrdn plc now owns 889,923 shares of the company’s stock valued at $13,162,000 after purchasing an additional 149,672 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

NASDAQ PARA opened at $12.18 on Friday. The firm’s 50 day simple moving average is $11.49 and its 200 day simple moving average is $12.88. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Paramount Global has a 1 year low of $10.12 and a 1 year high of $24.00. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of -11.94, a P/E/G ratio of 0.45 and a beta of 1.77.

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

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.64%. Paramount Global’s payout ratio is -19.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Paramount Global in a research note on Thursday, February 29th. Redburn Atlantic downgraded Paramount Global from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Morgan Stanley cut their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price target on shares of Paramount Global in a research note on Tuesday, April 9th. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.79.

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.