Paramount Global (NASDAQ:PARA) Shares Acquired by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP increased its holdings in shares of Paramount Global (NASDAQ:PARA) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,775 shares of the company’s stock after acquiring an additional 5,123 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Paramount Global were worth $673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PARA. Lingotto Investment Management LLP raised its stake in Paramount Global by 628.8% during the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after acquiring an additional 25,829,185 shares during the period. Kodai Capital Management LP acquired a new stake in Paramount Global during the fourth quarter worth about $84,842,000. Vanguard Group Inc. raised its stake in Paramount Global by 6.5% during the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after acquiring an additional 3,803,928 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in Paramount Global during the first quarter worth about $33,191,000. Finally, Norges Bank acquired a new stake in Paramount Global during the fourth quarter worth about $41,497,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PARA has been the subject of several recent analyst reports. Guggenheim decreased their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. 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 report on Tuesday, July 9th. Wells Fargo & Company upgraded 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 research report on Friday, August 9th. Rosenblatt Securities restated a “neutral” rating and issued a $14.00 target price on shares of Paramount Global in a research report on Tuesday, June 4th. Finally, Evercore ISI decreased their target price on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.18.

Paramount Global Trading Up 1.0 %

Paramount Global stock opened at $10.66 on Friday. The stock has a market capitalization of $7.11 billion, a PE ratio of -71.06, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The firm has a 50 day simple moving average of $10.72 and a 200-day simple moving average of $11.31.

Paramount Global (NASDAQ:PARA) last issued its earnings results 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. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. As a group, equities research analysts expect that Paramount Global will post 1.57 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, September 16th. Paramount Global’s payout ratio is -133.32%.

Paramount Global 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.