LSV Asset Management Cuts Stock Holdings in Paramount Global (NASDAQ:PARA)

LSV Asset Management reduced its position in shares of Paramount Global (NASDAQ:PARA) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,896,550 shares of the company’s stock after selling 19,654 shares during the period. LSV Asset Management owned 0.28% of Paramount Global worth $19,705,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. ProShare Advisors LLC increased its stake in Paramount Global by 146.5% during the 1st quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock worth $1,787,000 after buying an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Paramount Global by 5.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock valued at $7,998,000 after purchasing an additional 34,541 shares in the last quarter. Financial Counselors Inc. grew its position in shares of Paramount Global by 6.9% in the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after purchasing an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Paramount Global by 33.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after purchasing an additional 103,103 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Paramount Global by 19.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 57,368 shares of the company’s stock valued at $848,000 after purchasing an additional 9,512 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Down 2.1 %

NASDAQ:PARA opened at $10.09 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. The stock’s fifty day moving average is $11.01 and its two-hundred day moving average is $11.35. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of -67.26, a price-to-earnings-growth ratio of 0.56 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.21 billion. Research analysts anticipate that Paramount Global will post 1.57 EPS for the current year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s dividend payout ratio is currently -133.32%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Rosenblatt Securities restated a “neutral” rating and issued a $14.00 price target on shares of Paramount Global in a research report on Tuesday, June 4th. JPMorgan Chase & Co. dropped their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Finally, Wolfe Research cut 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. Ten investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.47.

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.