DekaBank Deutsche Girozentrale Grows Position in Paramount Global (NASDAQ:PARA)

DekaBank Deutsche Girozentrale grew its stake in Paramount Global (NASDAQ:PARA) by 11.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,447 shares of the company’s stock after acquiring an additional 5,898 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Paramount Global were worth $606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PARA. Atlas Capital Advisors LLC acquired a new position in Paramount Global in the 2nd quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paramount Global during the second quarter worth about $43,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Paramount Global in the fourth quarter valued at approximately $44,000. SageView Advisory Group LLC purchased a new position in shares of Paramount Global during the first quarter valued at approximately $56,000. Finally, GAMMA Investing LLC boosted its position in Paramount Global by 22.8% during the second 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 last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PARA. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. Wolfe Research lowered Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a research note on Tuesday, July 9th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Eleven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.47.

Paramount Global Trading Down 0.9 %

NASDAQ:PARA opened at $10.37 on Friday. The business’s 50-day moving average is $10.85 and its two-hundred day moving average is $11.32. The firm has a market capitalization of $6.91 billion, a PE ratio of -69.13, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15.

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

Paramount Global Dividend Announcement

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

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.