North Star Investment Management Corp. Raises Holdings in Paramount Global (NASDAQ:PARA)

North Star Investment Management Corp. boosted its stake in shares of Paramount Global (NASDAQ:PARA – Get Rating) by 28.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,695 shares of the company’s stock after acquiring an additional 49,284 shares during the quarter. North Star Investment Management Corp.’s holdings in Paramount Global were worth $3,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Money Concepts Capital Corp purchased a new position in shares of Paramount Global in the 3rd quarter valued at approximately $25,000. Ellevest Inc. bought a new stake in shares of Paramount Global in the 3rd quarter worth $25,000. General Partner Inc. bought a new stake in shares of Paramount Global in the 4th quarter worth $27,000. Lowe Wealth Advisors LLC purchased a new position in shares of Paramount Global in the 3rd quarter worth $29,000. Finally, Islay Capital Management LLC purchased a new position in shares of Paramount Global in the 3rd quarter worth $29,000. 74.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PARA. Loop Capital downgraded Paramount Global from a “hold” rating to a “sell” rating and lowered their target price for the company from $30.00 to $14.00 in a research report on Friday, December 23rd. Morgan Stanley reduced their price objective on Paramount Global from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Monday, December 19th. Macquarie cut Paramount Global from a “neutral” rating to an “underperform” rating and set a $15.00 target price on the stock. in a research note on Tuesday, January 31st. Guggenheim upped their target price on Paramount Global from $20.00 to $22.00 in a research note on Thursday, January 12th. Finally, Needham & Company LLC boosted their price target on Paramount Global from $23.00 to $28.00 and gave the company a “buy” rating in a report on Friday, February 17th. Eleven equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.86.

Paramount Global Trading Down 0.2 %

PARA stock opened at $19.70 on Friday. The firm has a market cap of $12.79 billion, a P/E ratio of 12.31, a PEG ratio of 3.48 and a beta of 1.63. Paramount Global has a 52-week low of $15.29 and a 52-week high of $39.21. The company’s 50-day simple moving average is $21.80 and its 200-day simple moving average is $20.17. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 0.66.

Paramount Global (NASDAQ:PARA – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The company had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $8.16 billion. Paramount Global had a net margin of 3.66% and a return on equity of 5.03%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, equities analysts forecast that Paramount Global will post 0.65 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 20th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Friday, March 17th. Paramount Global’s dividend payout ratio is presently 60.00%.

Paramount Global Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.