Linden Thomas Advisory Services LLC Boosts Holdings in Paramount Global (NASDAQ:PARA)

Linden Thomas Advisory Services LLC grew its stake in Paramount Global (NASDAQ:PARA) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,707 shares of the company’s stock after buying an additional 1,261 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Paramount Global were worth $706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PARA. VisionPoint Advisory Group LLC acquired a new stake in Paramount Global during the third quarter valued at $25,000. Anchor Investment Management LLC acquired a new stake in shares of Paramount Global in the fourth quarter valued at approximately $30,000. Archer Investment Corp acquired a new position in Paramount Global during the fourth quarter worth $30,000. WFA of San Diego LLC increased its stake in shares of Paramount Global by 635.0% in the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Paramount Global by 55.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after acquiring an additional 1,056 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PARA. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Paramount Global in a report on Tuesday, April 9th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Morgan Stanley decreased their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, Raymond James reiterated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global currently has an average rating of “Hold” and a consensus target price of $13.79.

Paramount Global Trading Down 3.9 %

PARA opened at $12.18 on Friday. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of -11.94, a price-to-earnings-growth ratio of 0.45 and a beta of 1.77. Paramount Global has a 52 week low of $10.12 and a 52 week high of $24.00. The business’s 50 day moving average is $11.49 and its two-hundred day moving average is $12.88. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The company had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same period last year, the firm posted $0.08 EPS. Paramount Global’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts predict that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is presently -19.61%.

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.