Proficio Capital Partners LLC Takes $177,000 Position in Paramount Global (NASDAQ:PARA)

Proficio Capital Partners LLC bought a new position in shares of Paramount Global (NASDAQ:PARA) during the fourth quarter, HoldingsChannel.com reports. The firm bought 16,956 shares of the company’s stock, valued at approximately $177,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares during the period. SBI Securities Co. Ltd. purchased a new position in Paramount Global during the fourth quarter worth about $57,000. FNY Investment Advisers LLC boosted its stake in Paramount Global by 102.4% in the 4th 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 purchased a new stake in Paramount Global in the 4th quarter valued at about $88,000. Finally, Mather Group LLC. grew its holdings in Paramount Global by 42.3% in the 4th quarter. Mather Group LLC. now owns 8,959 shares of the company’s stock valued at $94,000 after buying an additional 2,664 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Stock Performance

Paramount Global stock opened at $11.68 on Friday. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.79 billion, a P/E ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The stock has a 50 day moving average of $11.25 and a 200-day moving average of $10.87.

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

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio is presently -2.15%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PARA shares. StockNews.com began coverage on shares of Paramount Global in a report on Saturday, March 22nd. They set a “hold” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley increased their target price on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.10.

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.