DRW Securities LLC Sells 37,457 Shares of Paramount Global (NASDAQ:PARA)

DRW Securities LLC lessened its position in Paramount Global (NASDAQ:PARA) by 56.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,285 shares of the company’s stock after selling 37,457 shares during the period. DRW Securities LLC’s holdings in Paramount Global were worth $311,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank lifted its position in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Paramount Global in the second quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC bought a new stake in Paramount Global in the 2nd quarter worth approximately $43,000. Finally, Kennebec Savings Bank purchased a new stake in Paramount Global during the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

PARA has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Macquarie reissued an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $10.00 to $11.00 in a report on Friday, August 9th. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.40.

Paramount Global Trading Up 1.2 %

PARA stock opened at $10.77 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The business has a 50 day simple moving average of $10.68 and a two-hundred day simple moving average of $10.95. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of -1.31, a PEG ratio of 1.34 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. Research analysts anticipate that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given 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 1.86%. Paramount Global’s dividend payout ratio is currently -2.43%.

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.