Semanteon Capital Management LP Acquires New Holdings in Paramount Global (NASDAQ:PARA)

Semanteon Capital Management LP bought a new position in shares of Paramount Global (NASDAQ:PARA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,538 shares of the company’s stock, valued at approximately $319,000.

A number of other institutional investors have also made changes to their positions in PARA. Simplex Trading LLC boosted its position in shares of Paramount Global by 200.3% during the 4th quarter. Simplex Trading LLC now owns 781,676 shares of the company’s stock worth $11,560,000 after purchasing an additional 1,561,007 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Paramount Global by 3.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 298,814 shares of the company’s stock worth $4,419,000 after buying an additional 10,097 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Paramount Global by 5.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after buying an additional 769 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Paramount Global in the 4th quarter valued at $59,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Paramount Global in the 4th quarter valued at $66,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Trading Down 2.2 %

PARA stock opened at $11.91 on Friday. The company’s 50 day moving average is $11.48 and its two-hundred day moving average is $12.87. Paramount Global has a twelve month low of $10.12 and a twelve month high of $24.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17.

Paramount Global (NASDAQ:PARA) last announced its quarterly 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. The firm had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. Paramount Global’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. As a group, equities research analysts expect that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. Paramount Global’s payout ratio is -19.61%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Moffett Nathanson raised Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research report on Tuesday, January 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 target price on shares of Paramount Global in a research note on Tuesday, April 9th. JPMorgan Chase & Co. decreased their price target on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Redburn Atlantic lowered Paramount Global from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.79.

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.