Pinebridge Investments L.P. Invests $107,000 in Paramount Global (NASDAQ:PARA)

Pinebridge Investments L.P. purchased a new position in shares of Paramount Global (NASDAQ:PARA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,186 shares of the company’s stock, valued at approximately $107,000.

Other large investors also recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. Ossiam increased its stake in shares of Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after purchasing an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Paramount Global during the 4th quarter worth approximately $31,000. Rakuten Securities Inc. increased its stake in shares of Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new position in Paramount Global in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Down 0.3 %

PARA opened at $11.69 on Tuesday. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $7.80 billion, a P/E ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The company has a fifty day moving average price of $11.40 and a 200-day moving average price of $11.00.

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

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global’s dividend payout ratio is currently -2.15%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PARA shares. Guggenheim reiterated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research note on Wednesday, April 2nd. Finally, StockNews.com assumed coverage on shares of Paramount Global in a research note on Wednesday, April 23rd. They issued a “hold” rating for the company. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.92.

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.