Mather Group LLC. Invests $100,000 in Paramount Global (NASDAQ:PARA)

Mather Group LLC. acquired a new position in shares of Paramount Global (NASDAQ:PARA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,458 shares of the company’s stock, valued at approximately $100,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Amalgamated Bank boosted its stake in Paramount Global by 9.1% in the fourth quarter. Amalgamated Bank now owns 145,473 shares of the company’s stock worth $2,152,000 after buying an additional 12,174 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Paramount Global by 541.7% in the fourth quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock worth $10,481,000 after buying an additional 598,235 shares in the last quarter. Ariel Investments LLC boosted its stake in Paramount Global by 18.0% in the third quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock worth $146,168,000 after buying an additional 1,731,714 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Paramount Global in the third quarter worth approximately $1,240,000. Finally, Caprock Group LLC boosted its stake in Paramount Global by 2.9% in the fourth quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock worth $746,000 after buying an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

PARA opened at $10.15 on Friday. The stock has a fifty day simple moving average of $11.85 and a two-hundred day simple moving average of $12.65. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Equities research analysts expect that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%. Paramount Global’s dividend payout ratio (DPR) is -133.32%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PARA. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Finally, Raymond James reissued a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average price target of $13.37.

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.