Innealta Capital LLC Raises Position in Paramount Global (NASDAQ:PARA)

Innealta Capital LLC lifted its stake in Paramount Global (NASDAQ:PARA) by 352.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,290 shares of the company’s stock after buying an additional 22,035 shares during the period. Innealta Capital LLC’s holdings in Paramount Global were worth $300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares during the period. Atlas Capital Advisors LLC purchased a new position in Paramount Global in the second quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the second quarter valued at about $43,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after purchasing an additional 4,100 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new position in Paramount Global in the first quarter valued at about $56,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PARA has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Wolfe Research cut 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. Wells Fargo & Company upgraded 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 research report on Friday, August 9th. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Finally, Guggenheim dropped their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Nine investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and an average target price of $12.33.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $10.98 on Monday. The stock has a fifty day moving average price of $10.47 and a two-hundred day moving average price of $11.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The firm has a market cap of $7.32 billion, a P/E ratio of -1.41, a PEG ratio of 1.64 and a beta of 1.74. 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 data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.40. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. Research analysts forecast that Paramount Global will post 1.61 EPS for the current fiscal year.

Paramount Global Announces Dividend

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

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.