Paramount Global (NASDAQ:PARA) Shares Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP increased its position in Paramount Global (NASDAQ:PARAFree Report) by 146.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 413,168 shares of the company’s stock after buying an additional 245,427 shares during the quarter. Invenomic Capital Management LP owned about 0.06% of Paramount Global worth $6,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kodai Capital Management LP acquired a new stake in Paramount Global in the fourth quarter valued at approximately $84,842,000. Norges Bank purchased a new stake in Paramount Global during the 4th quarter worth $41,497,000. Lingotto Investment Management LLP lifted its holdings in Paramount Global by 375.8% in the 4th quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock worth $48,388,000 after buying an additional 2,577,978 shares in the last quarter. Ariel Investments LLC boosted its position in Paramount Global by 18.0% in the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock valued at $146,168,000 after buying an additional 1,731,714 shares during the last quarter. Finally, Simplex Trading LLC grew its stake in shares of Paramount Global by 200.3% during the fourth quarter. Simplex Trading LLC now owns 781,676 shares of the company’s stock valued at $11,560,000 after acquiring an additional 1,561,007 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Ratings Changes

PARA has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Paramount Global in a report on Tuesday, June 4th. Wells Fargo & Company dropped their target price on shares of Paramount Global from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.63.

Check Out Our Latest Research Report on PARA

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $11.98 on Tuesday. Paramount Global has a 12-month low of $10.12 and a 12-month high of $17.50. The stock has a 50 day simple moving average of $12.09 and a 200-day simple moving average of $12.92. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

Paramount Global (NASDAQ:PARAGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, equities analysts expect that Paramount Global will post 1.32 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, June 17th. Paramount Global’s payout ratio is -133.32%.

About Paramount Global

(Free Report)

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.

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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