Mirae Asset Global Investments Co. Ltd. Increases Stake in Paramount Global (NASDAQ:PARA)

Mirae Asset Global Investments Co. Ltd. grew its position in Paramount Global (NASDAQ:PARA) by 119.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,659 shares of the company’s stock after acquiring an additional 25,972 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Paramount Global were worth $514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Paramount Global in the second quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new position in Paramount Global during the second quarter worth $43,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after acquiring an additional 4,100 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in Paramount Global in the first quarter valued at $56,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $10.00 to $11.00 in a report on Friday, August 9th. Wolfe Research lowered Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research note on Tuesday, July 9th. Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Friday, August 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Friday, August 9th. Nine equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.33.

Paramount Global Trading Up 0.4 %

Shares of PARA stock opened at $10.98 on Friday. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -1.41, a PEG ratio of 1.64 and a beta of 1.74. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $10.47 and a 200 day moving average price of $11.12. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Research analysts forecast that Paramount Global will post 1.61 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is -2.57%.

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.