Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.32 Million Stake in Paramount Global (NASDAQ:PARA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in shares of Paramount Global (NASDAQ:PARA) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 126,506 shares of the company’s stock after selling 2,957 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Paramount Global were worth $1,323,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP grew its stake in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares during the period. Rakuten Securities Inc. grew its position in shares of Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after buying an additional 2,019 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Paramount Global in the 4th quarter valued at $57,000. FNY Investment Advisers LLC lifted its position in shares of Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after acquiring an additional 3,654 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in shares of Paramount Global during the 4th quarter valued at $88,000. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Down 0.3 %

Paramount Global stock opened at $11.61 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market cap of $7.74 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The firm’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $10.86.

Paramount Global (NASDAQ:PARA) last announced its 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). The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Research analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio is presently -2.15%.

Analyst Upgrades and Downgrades

PARA has been the subject of a number of research reports. StockNews.com assumed coverage on shares of Paramount Global in a research note on Saturday. They issued a “hold” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Morgan Stanley increased their target price on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.10.

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.