Paradigm Capital Management Inc. NY Makes New Investment in Paramount Global (NASDAQ:PARA)

Paradigm Capital Management Inc. NY acquired a new stake in Paramount Global (NASDAQ:PARA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $104,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Atlas Capital Advisors LLC bought a new stake in Paramount Global in the second quarter worth $35,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paramount Global during the 2nd quarter worth about $43,000. Newbridge Financial Services Group Inc. bought a new position in Paramount Global during the 4th quarter valued at about $44,000. SageView Advisory Group LLC purchased a new stake in Paramount Global in the 1st quarter worth about $56,000. Finally, GAMMA Investing LLC lifted its stake in Paramount Global by 22.8% in the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $10.38 on Tuesday. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The company has a market capitalization of $6.92 billion, a PE ratio of -69.20, a P/E/G ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The company has a 50-day simple moving average of $10.80 and a two-hundred day simple moving average of $11.33.

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

Paramount Global Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PARA shares. Evercore ISI cut their target price on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Finally, Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price on the stock. in a research note on Tuesday, July 9th. Eleven analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus 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.