B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in Paramount Global (NASDAQ:PARA)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in Paramount Global (NASDAQ:PARA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,613 shares of the company’s stock, valued at approximately $123,000.

Other institutional investors also recently modified their holdings of the company. Lingotto Investment Management LLP grew its position in shares of Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after buying an additional 25,829,185 shares during the period. Jane Street Group LLC grew its position in shares of Paramount Global by 323.5% during the 1st quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock worth $32,417,000 after buying an additional 2,103,938 shares during the period. Ariel Investments LLC grew its position in shares of Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after buying an additional 1,992,576 shares during the period. AQR Capital Management LLC grew its position in shares of Paramount Global by 602.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after buying an additional 1,529,719 shares during the period. Finally, Shah Capital Management grew its position in shares of Paramount Global by 1,019.9% during the 2nd quarter. Shah Capital Management now owns 1,121,000 shares of the company’s stock worth $11,647,000 after buying an additional 1,020,900 shares during the period. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Up 2.2 %

Paramount Global stock opened at $11.12 on Tuesday. The stock has a market capitalization of $7.42 billion, a PE ratio of -1.35, a price-to-earnings-growth ratio of 1.31 and a beta of 1.74. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average of $10.67 and a 200-day moving average of $10.97.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is presently -2.43%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PARA. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $10.00 to $11.00 in a report on Friday, August 9th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Finally, Macquarie restated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.40.

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.