Curat Global LLC Invests $55,000 in Paramount Global (NASDAQ:PARA)

Curat Global LLC purchased a new position in shares of Paramount Global (NASDAQ:PARA) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 4,640 shares of the company’s stock, valued at approximately $55,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock valued at $701,242,000 after purchasing an additional 761,561 shares during the last quarter. Lingotto Investment Management LLP raised its stake in Paramount Global by 3.7% in the 4th 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 last quarter. Invesco Ltd. raised its stake in Paramount Global by 5.7% in the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock valued at $215,413,000 after purchasing an additional 1,119,314 shares during the last quarter. Geode Capital Management LLC raised its stake in Paramount Global by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock valued at $162,731,000 after purchasing an additional 724,565 shares during the last quarter. Finally, Ariel Investments LLC raised its stake in Paramount Global by 3.2% in the 4th quarter. Ariel Investments LLC now owns 14,663,907 shares of the company’s stock valued at $153,384,000 after purchasing an additional 460,539 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Up 0.2%

Shares of NASDAQ:PARA opened at $11.92 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 1 year low of $9.54 and a 1 year high of $12.54. The stock has a market capitalization of $8.04 billion, a P/E ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.19. The stock has a 50-day simple moving average of $11.52 and a 200-day simple moving average of $11.21.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $7.14 billion. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, June 16th. Paramount Global’s payout ratio is currently -2.43%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group cut their target price on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, May 21st. Citigroup reissued a “neutral” rating and issued a $12.00 target price (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Guggenheim restated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Finally, Benchmark lowered their price target on Paramount Global from $19.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.33.

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.