Choreo LLC Makes New Investment in Paramount Global (NASDAQ:PARA)

Choreo LLC acquired a new stake in shares of Paramount Global (NASDAQ:PARA) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,198 shares of the company’s stock, valued at approximately $104,000.

Other institutional investors and hedge funds have also modified their holdings of the company. ProShare Advisors LLC increased its position in shares of Paramount Global by 146.5% during the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after purchasing an additional 90,262 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Paramount Global by 5.4% during 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 during the period. Financial Counselors Inc. increased its position in shares of Paramount Global by 6.9% during 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 during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Paramount Global by 33.9% during 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 during the period. Finally, Coldstream Capital Management Inc. increased its position in shares of Paramount Global by 10.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,400 shares of the company’s stock valued at $169,000 after purchasing an additional 1,081 shares during the period. 73.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PARA. StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. Benchmark reaffirmed a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Paramount Global in a research note on Tuesday, June 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Finally, Evercore ISI decreased their price target on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Eleven research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus price target of $12.47.

Paramount Global Trading Down 0.9 %

Shares of PARA opened at $10.37 on Friday. 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 12-month low of $9.54 and a 12-month high of $17.50. The firm has a market capitalization of $6.91 billion, a PE ratio of -69.13, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75. The stock’s fifty day simple moving average is $10.85 and its 200-day simple moving average is $11.32.

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

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.93%. Paramount Global’s dividend payout ratio is presently -133.33%.

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.