Rhumbline Advisers Has $9.98 Million Stock Position in Paramount Global (NASDAQ:PARA)

Rhumbline Advisers lessened its position in shares of Paramount Global (NASDAQ:PARA) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 954,015 shares of the company’s stock after selling 68,667 shares during the quarter. Rhumbline Advisers owned about 0.14% of Paramount Global worth $9,979,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PARA. Blue Trust Inc. grew its holdings in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank boosted its position in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Paramount Global during the third quarter worth $47,000. FNY Investment Advisers LLC increased its holdings in Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after purchasing an additional 3,654 shares during the last quarter. Finally, Synergy Asset Management LLC acquired a new position in Paramount Global in the fourth quarter valued at about $88,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of PARA opened at $11.67 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The stock has a market capitalization of $7.78 billion, a P/E ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.69. The company has a 50 day moving average of $10.76 and a 200-day moving average of $10.72.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is currently -2.43%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PARA shares. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Morgan Stanley increased their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Finally, Macquarie reissued an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Six 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 company’s stock. According to data from MarketBeat, Paramount Global currently has an average rating of “Hold” and an average target price of $12.58.

About Paramount Global

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.