Resources Management Corp CT ADV Sells 1,425 Shares of Paramount Global (NASDAQ:PARA)

Resources Management Corp CT ADV lessened its holdings in shares of Paramount Global (NASDAQ:PARA) by 6.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 21,588 shares of the company’s stock after selling 1,425 shares during the period. Resources Management Corp CT ADV’s holdings in Paramount Global were worth $224,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in shares of Paramount Global by 146.5% in the 1st quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after acquiring an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Paramount Global by 5.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after buying an additional 34,541 shares during the period. Financial Counselors Inc. boosted its stake in Paramount Global by 6.9% in the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after buying an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in 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 acquiring an additional 103,103 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in Paramount Global by 10.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,400 shares of the company’s stock worth $169,000 after acquiring an additional 1,081 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.55 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The business’s 50-day simple moving average is $10.77 and its 200-day simple moving average is $11.32. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

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

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s dividend payout ratio is presently -133.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PARA shares. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Wolfe Research cut shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a research note on Tuesday, July 9th. The Goldman Sachs Group assumed coverage on Paramount Global in a research report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price target on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Friday, August 9th. Eleven research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.47.

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.