Victory Capital Management Inc. Has $950,000 Stock Position in Paramount Global (NASDAQ:PARA)

Victory Capital Management Inc. trimmed its position in Paramount Global (NASDAQ:PARA) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,794 shares of the company’s stock after selling 5,671 shares during the quarter. Victory Capital Management Inc.’s holdings in Paramount Global were worth $950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PARA. Allworth Financial LP boosted its holdings in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Paramount Global during the fourth quarter worth about $57,000. FNY Investment Advisers LLC boosted its holdings in Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after buying an additional 3,654 shares during the last quarter. Synergy Asset Management LLC bought a new position in Paramount Global during the fourth quarter worth about $88,000. Finally, Mather Group LLC. boosted its holdings in Paramount Global by 42.3% during the fourth quarter. Mather Group LLC. now owns 8,959 shares of the company’s stock worth $94,000 after buying an additional 2,664 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PARA shares. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Guggenheim reiterated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Up 1.6 %

Shares of Paramount Global stock opened at $11.93 on Friday. The business’s 50 day simple moving average is $11.13 and its 200 day simple moving average is $10.83. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The firm has a market cap of $7.96 billion, a PE ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

About Paramount Global

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.