MetLife Investment Management LLC Has $1.64 Million Stake in Paramount Global (NASDAQ:PARA)

MetLife Investment Management LLC increased its stake in shares of Paramount Global (NASDAQ:PARA) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,584 shares of the company’s stock after purchasing an additional 20,984 shares during the quarter. MetLife Investment Management LLC’s holdings in Paramount Global were worth $1,642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PARA. Comerica Bank increased its holdings in Paramount Global by 3.4% in the first quarter. Comerica Bank now owns 80,073 shares of the company’s stock worth $942,000 after buying an additional 2,640 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Paramount Global by 243.0% in the first quarter. Cetera Investment Advisers now owns 183,125 shares of the company’s stock worth $2,155,000 after buying an additional 129,734 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of Paramount Global by 443.1% during the 1st quarter. Cetera Advisors LLC now owns 67,207 shares of the company’s stock valued at $791,000 after acquiring an additional 54,833 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Paramount Global by 3.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 53,549 shares of the company’s stock valued at $622,000 after acquiring an additional 1,846 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PARA shares. Macquarie reiterated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Guggenheim cut their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Wells Fargo & Company upgraded 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 research note on Friday, August 9th. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.40.

Paramount Global Stock Performance

Paramount Global stock opened at $10.81 on Friday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a fifty day moving average price of $10.73 and a two-hundred day moving average price of $10.89. The firm has a market capitalization of $7.21 billion, a P/E ratio of -1.32, a P/E/G ratio of 1.32 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. As a group, analysts anticipate that Paramount Global will post 1.86 EPS 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. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -2.43%.

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.