Acadian Asset Management LLC Makes New $181,000 Investment in Paramount Global (NASDAQ:PARA)

Acadian Asset Management LLC acquired a new stake in shares of Paramount Global (NASDAQ:PARA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,590 shares of the company’s stock, valued at approximately $181,000.

Other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in Paramount Global during the fourth quarter worth approximately $44,000. Atlas Capital Advisors LLC bought a new stake in shares of Paramount Global during the 2nd quarter worth $35,000. SageView Advisory Group LLC acquired a new position in Paramount Global in the 1st quarter valued at $56,000. GAMMA Investing LLC raised its holdings in Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after acquiring an additional 1,067 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Paramount Global by 40.9% in the 1st quarter. Bessemer Group Inc. now owns 5,868 shares of the company’s stock worth $68,000 after acquiring an additional 1,704 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of NASDAQ:PARA opened at $10.37 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The business’s fifty day moving average price is $10.85 and its two-hundred day moving average price is $11.32. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -69.13, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.40. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. As a group, analysts predict that Paramount Global will post 1.57 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s payout ratio is -133.33%.

Analyst Ratings Changes

PARA has been the topic of several research analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Paramount Global in a research report on Tuesday, June 4th. JPMorgan Chase & Co. lowered their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. The Goldman Sachs Group assumed coverage on shares of Paramount Global in a research note on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price objective on the stock. Finally, StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Saturday, September 14th. Eleven research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Paramount Global currently has an average rating of “Hold” and an average price target of $12.47.

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.