Signaturefd LLC Has $120,000 Stake in Paramount Global (NASDAQ:PARA)

Signaturefd LLC lifted its position in shares of Paramount Global (NASDAQ:PARA) by 80.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,580 shares of the company’s stock after buying an additional 5,166 shares during the quarter. Signaturefd LLC’s holdings in Paramount Global were worth $120,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in Paramount Global in the fourth quarter valued at approximately $44,000. SageView Advisory Group LLC bought a new stake in shares of Paramount Global in the 1st quarter valued at $56,000. GAMMA Investing LLC lifted its position in shares of Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after acquiring an additional 1,067 shares during the period. Innealta Capital LLC acquired a new stake in Paramount Global in the second quarter worth $65,000. Finally, Bessemer Group Inc. increased its stake in Paramount Global by 40.9% in the first quarter. Bessemer Group Inc. now owns 5,868 shares of the company’s stock valued at $68,000 after purchasing an additional 1,704 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PARA shares. JPMorgan Chase & Co. reduced their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Evercore ISI decreased their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a report on Tuesday, July 9th. Rosenblatt Securities reiterated a “neutral” rating and issued a $14.00 target price on shares of Paramount Global in a report on Tuesday, June 4th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Finally, Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a report on Tuesday, July 9th. Eleven analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.47.

Paramount Global Stock Down 0.5 %

Paramount Global stock opened at $10.42 on Wednesday. The firm has a 50 day moving average price of $11.01 and a 200-day moving average price of $11.41. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a market capitalization of $6.95 billion, a P/E ratio of -69.46, a P/E/G ratio of 0.58 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. As a group, equities analysts predict that Paramount Global will post 1.57 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.92%. The ex-dividend date is Monday, September 16th. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

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.