UniSuper Management Pty Ltd Boosts Stock Position in Paramount Global (NASDAQ:PARA)

UniSuper Management Pty Ltd boosted its position in shares of Paramount Global (NASDAQ:PARA) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,408 shares of the company’s stock after acquiring an additional 18,699 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Paramount Global were worth $1,500,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in Paramount Global during the 4th quarter worth approximately $31,000. Rakuten Securities Inc. boosted its position in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after buying an additional 2,019 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Paramount Global in the fourth quarter worth $57,000. Finally, FNY Investment Advisers LLC increased its position in shares of Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after acquiring an additional 3,654 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on PARA shares. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. StockNews.com initiated coverage on shares of Paramount Global in a report on Sunday. They set a “hold” rating for the company. Finally, Guggenheim restated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.10.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $11.56 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The firm has a market capitalization of $7.71 billion, a P/E ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. The company’s fifty day moving average price is $11.28 and its 200 day moving average price is $10.90.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, sell-side analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.73%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

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.