Paramount Global (NASDAQ:PARA) Shares Sold by Xponance Inc.

Xponance Inc. lessened its stake in Paramount Global (NASDAQ:PARA) by 36.7% during the 4th quarter, HoldingsChannel reports. The firm owned 57,114 shares of the company’s stock after selling 33,050 shares during the quarter. Xponance Inc.’s holdings in Paramount Global were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mutual of America Capital Management LLC boosted its holdings in Paramount Global by 17.4% during the third quarter. Mutual of America Capital Management LLC now owns 73,219 shares of the company’s stock worth $778,000 after buying an additional 10,877 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Paramount Global during the 3rd quarter worth about $294,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Paramount Global during the 3rd quarter valued at about $123,000. PNC Financial Services Group Inc. increased its stake in shares of Paramount Global by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Commerce Bank raised its holdings in Paramount Global by 18.0% in the 3rd quarter. Commerce Bank now owns 13,972 shares of the company’s stock worth $148,000 after purchasing an additional 2,133 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PARA. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley lifted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Finally, StockNews.com started coverage on shares of Paramount Global in a research report on Saturday. They set a “hold” rating for the company. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.61 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s fifty day moving average is $11.20 and its two-hundred day moving average is $10.86. The firm has a market capitalization of $7.74 billion, a P/E ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54.

Paramount Global (NASDAQ:PARA) last announced 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). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. On average, research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.72%. Paramount Global’s dividend payout ratio is currently -2.15%.

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.