Round Hill Asset Management Has $748,000 Holdings in Paramount Global (NASDAQ:PARA)

Round Hill Asset Management lessened its position in shares of Paramount Global (NASDAQ:PARA) by 5.8% in the first quarter, Holdings Channel.com reports. The firm owned 62,549 shares of the company’s stock after selling 3,875 shares during the period. Round Hill Asset Management’s holdings in Paramount Global were worth $748,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new position in Paramount Global during the 4th quarter worth about $28,000. Ossiam increased its holdings in 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 in the last quarter. Curat Global LLC bought a new position in Paramount Global during the 1st quarter worth about $55,000. Resona Asset Management Co. Ltd. increased its holdings in Paramount Global by 40.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 4,796 shares of the company’s stock worth $55,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Paramount Global by 8,991.5% during the 1st quarter. Larson Financial Group LLC now owns 5,364 shares of the company’s stock worth $64,000 after purchasing an additional 5,305 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup reiterated a “neutral” rating and set a $12.00 target price (down previously from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Guggenheim reiterated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a report on Thursday, June 26th. Morgan Stanley raised their price objective on Paramount Global from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Friday, August 1st. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, May 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.70.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $11.04 on Friday. Paramount Global has a fifty-two week low of $9.95 and a fifty-two week high of $13.59. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of -367.88, a PEG ratio of 3.07 and a beta of 1.17. The business has a 50-day moving average of $12.37 and a 200-day moving average of $11.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.09. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.51%. The business had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.88 billion. During the same period last year, the business posted $0.54 EPS. Paramount Global’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, June 16th. Paramount Global’s dividend payout ratio (DPR) is -666.67%.

About Paramount Global

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.