OneDigital Investment Advisors LLC Invests $135,000 in Paramount Global (NASDAQ:PARA)

OneDigital Investment Advisors LLC bought a new stake in shares of Paramount Global (NASDAQ:PARA) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 12,697 shares of the company’s stock, valued at approximately $135,000.

A number of other hedge funds have also recently bought and sold shares of PARA. Metis Global Partners LLC raised its position in shares of Paramount Global by 17.1% during the third quarter. Metis Global Partners LLC now owns 48,184 shares of the company’s stock valued at $512,000 after buying an additional 7,050 shares during the last quarter. Huntington National Bank raised its holdings in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Paramount Global by 46.0% in the 3rd quarter. GSA Capital Partners LLP now owns 87,924 shares of the company’s stock worth $934,000 after acquiring an additional 27,709 shares during the period. Entropy Technologies LP grew its holdings in shares of Paramount Global by 28.6% during the 3rd quarter. Entropy Technologies LP now owns 71,492 shares of the company’s stock worth $759,000 after purchasing an additional 15,900 shares in the last quarter. Finally, Kennebec Savings Bank bought a new stake in shares of Paramount Global during the third quarter valued at approximately $47,000. 73.00% of the stock is owned by institutional investors.

Paramount Global Trading Down 1.9 %

Shares of PARA opened at $10.88 on Friday. The stock has a fifty day moving average price of $10.66 and a two-hundred day moving average price of $10.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $7.26 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.34 and a beta of 1.74. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the previous year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts predict that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.84%. Paramount Global’s dividend payout ratio (DPR) is currently -2.43%.

Analyst Ratings Changes

Several research analysts recently commented on PARA shares. JPMorgan Chase & Co. reduced their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Guggenheim lowered their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Global has an average rating of “Hold” and a consensus price target of $12.40.

About Paramount Global

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.