Quantbot Technologies LP Invests $6.40 Million in Paramount Global (NASDAQ:PARA)

Quantbot Technologies LP bought a new stake in Paramount Global (NASDAQ:PARA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 611,821 shares of the company’s stock, valued at approximately $6,400,000. Quantbot Technologies LP owned 0.09% of Paramount Global at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PARA. Contrarius Group Holdings Ltd purchased a new stake in shares of Paramount Global in the fourth quarter worth about $146,230,000. State Street Corp boosted its holdings in Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after acquiring an additional 6,848,037 shares during the period. Geode Capital Management LLC grew its position in Paramount Global by 12.1% in the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after acquiring an additional 1,606,779 shares in the last quarter. Lingotto Investment Management LLP raised its stake in shares of Paramount Global by 3.7% during the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after purchasing an additional 1,593,579 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Up 0.5 %

Paramount Global stock opened at $11.64 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a 50-day simple moving average of $11.01 and a 200-day simple moving average of $10.79. The firm has a market capitalization of $7.76 billion, a P/E ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.72%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PARA shares. Benchmark reaffirmed a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley lifted their price target on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Finally, Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.10.

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.