Intech Investment Management LLC Buys Shares of 11,052 Paramount Global (NASDAQ:PARA)

Intech Investment Management LLC bought a new stake in shares of Paramount Global (NASDAQ:PARA) in the third quarter, Holdings Channel.com reports. The firm bought 11,052 shares of the company’s stock, valued at approximately $117,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank lifted its stake in shares of Paramount Global by 3.4% in the 1st quarter. Comerica Bank now owns 80,073 shares of the company’s stock worth $942,000 after acquiring an additional 2,640 shares during the period. Cetera Investment Advisers lifted its stake in shares of Paramount Global by 243.0% in the 1st quarter. Cetera Investment Advisers now owns 183,125 shares of the company’s stock worth $2,155,000 after acquiring an additional 129,734 shares during the period. Cetera Advisors LLC lifted its stake in shares of Paramount Global by 443.1% in the 1st quarter. Cetera Advisors LLC now owns 67,207 shares of the company’s stock worth $791,000 after acquiring an additional 54,833 shares during the period. GAMMA Investing LLC lifted its stake in shares of Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after acquiring an additional 1,067 shares during the period. Finally, CWM LLC lifted its stake in shares of Paramount Global by 79.0% in the 2nd quarter. CWM LLC now owns 17,651 shares of the company’s stock worth $183,000 after acquiring an additional 7,791 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PARA. JPMorgan Chase & Co. reduced 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 note on Thursday, August 15th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Guggenheim dropped their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Eight 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. According to data from MarketBeat, Paramount Global currently has an average rating of “Hold” and a consensus target price of $12.40.

Paramount Global Stock Up 1.7 %

PARA stock opened at $10.99 on Friday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The company’s 50 day simple moving average is $10.73 and its 200-day simple moving average is $10.88. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $7.33 billion, a P/E ratio of -1.34, a P/E/G ratio of 1.33 and a beta of 1.71.

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

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.82%. Paramount Global’s dividend payout ratio is presently -2.43%.

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.