Financial Counselors Inc. Purchases 56,021 Shares of Paramount Global (NASDAQ:PARA)

Financial Counselors Inc. raised its position in Paramount Global (NASDAQ:PARA) by 6.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 864,287 shares of the company’s stock after buying an additional 56,021 shares during the quarter. Financial Counselors Inc.’s holdings in Paramount Global were worth $8,980,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PARA. Kodai Capital Management LP acquired a new position in shares of Paramount Global during the 4th quarter worth about $84,842,000. Vanguard Group Inc. grew its stake in Paramount Global by 6.5% in the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after purchasing an additional 3,803,928 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new position in shares of Paramount Global during the 1st quarter worth approximately $33,191,000. Norges Bank acquired a new stake in shares of Paramount Global in the 4th quarter valued at approximately $41,497,000. Finally, Lingotto Investment Management LLP grew its stake in shares of Paramount Global by 375.8% in the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock valued at $48,388,000 after buying an additional 2,577,978 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Paramount Global stock opened at $10.47 on Tuesday. The stock has a market cap of $6.98 billion, a PE ratio of -69.80, a P/E/G ratio of 0.58 and a beta of 1.75. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The business’s 50-day moving average price is $11.01 and its two-hundred day moving average price is $11.42.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. As a group, analysts expect that Paramount Global will post 1.57 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, September 16th. Paramount Global’s payout ratio is -133.32%.

Analyst Ratings Changes

PARA has been the topic of several analyst reports. Wolfe Research lowered shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Evercore ISI dropped their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Finally, StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Eleven research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average price target 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.