Paramount Global (NASDAQ:PARA) Shares Bought by Czech National Bank

Czech National Bank lifted its holdings in shares of Paramount Global (NASDAQ:PARA) by 28.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 121,149 shares of the company’s stock after buying an additional 26,944 shares during the quarter. Czech National Bank’s holdings in Paramount Global were worth $1,287,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Paramount Global by 6.5% in the 1st 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 during the last quarter. Lingotto Investment Management LLP grew its position in Paramount Global by 628.8% in the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares during the last quarter. Ariel Investments LLC increased its stake in Paramount Global by 16.5% in the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after buying an additional 1,992,576 shares during the period. Kodai Capital Management LP raised its position in 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 last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Paramount Global by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock worth $38,698,000 after acquiring an additional 225,191 shares during the period. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

PARA stock opened at $10.35 on Friday. The stock’s 50 day moving average price is $10.54 and its 200 day moving average price is $11.24. The firm has a market cap of $6.90 billion, a P/E ratio of -1.33, a PEG ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. On average, sell-side analysts expect that Paramount Global will post 1.56 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.93%. Paramount Global’s dividend payout ratio is currently -2.57%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $10.00 to $11.00 in a report on Friday, August 9th. The Goldman Sachs Group started coverage on Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price for the company. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Guggenheim cut their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.33.

Paramount Global Company 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.