Metropolis Capital Ltd Has $11.93 Million Holdings in Paramount Global (NASDAQ:PARA)

Metropolis Capital Ltd grew its holdings in shares of Paramount Global (NASDAQ:PARA) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,123,029 shares of the company’s stock after purchasing an additional 64,681 shares during the period. Paramount Global comprises 0.4% of Metropolis Capital Ltd’s holdings, making the stock its 16th largest holding. Metropolis Capital Ltd owned 0.17% of Paramount Global worth $11,927,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after acquiring an additional 3,803,928 shares in the last quarter. Lingotto Investment Management LLP boosted its position in Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares in the last quarter. Ariel Investments LLC boosted its position in Paramount Global by 16.5% in the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after buying an additional 1,992,576 shares in the last quarter. Kodai Capital Management LP boosted its position in Paramount Global by 9.2% in the first quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company’s stock valued at $73,732,000 after buying an additional 527,897 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Paramount Global by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock valued at $38,698,000 after buying an additional 225,191 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PARA. Evercore ISI cut their target price on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research report on Tuesday, July 9th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target for the company. in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Nine 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. Based on data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average target price of $12.33.

Paramount Global Trading Down 0.4 %

PARA opened at $10.27 on Wednesday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. 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 company has a market cap of $6.85 billion, a P/E ratio of -1.32, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The company has a fifty day moving average price of $10.54 and a two-hundred day moving average price of $11.16.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. Analysts predict that Paramount Global will post 1.56 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. Stockholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -2.57%.

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.