Paramount Global (NASDAQ:PARA) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co lessened its holdings in shares of Paramount Global (NASDAQ:PARA) by 42.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 41,971 shares of the company’s stock after selling 30,482 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Paramount Global were worth $448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its stake in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares during the last quarter. Huntington National Bank lifted its position in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Paramount Global in the 2nd quarter valued at $35,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paramount Global in the 2nd quarter valued at $43,000. Finally, Kennebec Savings Bank purchased a new position in shares of Paramount Global in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Down 3.5 %

NASDAQ PARA opened at $11.22 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $7.48 billion, a P/E ratio of -1.36, a P/E/G ratio of 1.35 and a beta of 1.71. Paramount Global has a 52-week low of $9.54 and a 52-week high of $16.83. The firm has a 50-day moving average price of $10.81 and a 200 day moving average price of $10.86.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the prior year, the business posted $0.30 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts expect that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. Paramount Global’s payout ratio is currently -2.43%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Guggenheim reduced their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Macquarie reissued an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.43.

Paramount Global Company 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.