GYL Financial Synergies LLC Sells 2,980 Shares of Paramount Global (NASDAQ:PARA)

GYL Financial Synergies LLC reduced its position in Paramount Global (NASDAQ:PARA) by 10.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,478 shares of the company’s stock after selling 2,980 shares during the period. GYL Financial Synergies LLC’s holdings in Paramount Global were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PARA. Vanguard Group Inc. increased its position in Paramount Global by 6.5% in the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after purchasing an additional 3,803,928 shares during the period. Ariel Investments LLC grew its position in shares of Paramount Global by 9.3% during the 1st quarter. Ariel Investments LLC now owns 12,049,689 shares of the company’s stock worth $141,825,000 after buying an additional 1,028,314 shares during the period. Kodai Capital Management LP grew its position in shares of Paramount Global by 9.2% during the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company’s stock worth $73,732,000 after buying an additional 527,897 shares during the period. Lingotto Investment Management LLP raised its stake in shares of Paramount Global by 375.8% during the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock worth $48,388,000 after buying an additional 2,577,978 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC acquired a new position in Paramount Global in the first quarter valued at approximately $33,191,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 1.6 %

NASDAQ PARA opened at $11.36 on Friday. The stock’s 50 day moving average price is $10.89 and its two-hundred day moving average price is $11.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of -75.73, a PEG ratio of 0.61 and a beta of 1.78. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 1.76%. Paramount Global’s payout ratio is currently -133.33%.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group started coverage on shares of Paramount Global in a research report on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price for the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Tuesday, June 4th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Seaport Res Ptn cut Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, August 15th. Eleven investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.47.

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.