Proficio Capital Partners LLC Buys New Position in Paramount Global (NASDAQ:PARA)

Proficio Capital Partners LLC purchased a new position in shares of Paramount Global (NASDAQ:PARA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,956 shares of the company’s stock, valued at approximately $177,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Paramount Global in the 4th quarter worth $57,000. FNY Investment Advisers LLC boosted its holdings in shares of 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 acquiring an additional 3,654 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Paramount Global during the fourth quarter worth about $88,000. Finally, Mather Group LLC. raised its holdings in Paramount Global by 42.3% during the fourth quarter. Mather Group LLC. now owns 8,959 shares of the company’s stock worth $94,000 after purchasing an additional 2,664 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

NASDAQ:PARA opened at $11.68 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $7.79 billion, a P/E ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The firm has a 50-day moving average price of $11.25 and a two-hundred day moving average price of $10.87. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. As a group, research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. Paramount Global’s dividend payout ratio is currently -2.15%.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of analyst reports. StockNews.com began coverage on Paramount Global in a report on Saturday, March 22nd. They issued a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley increased their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Paramount Global currently has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Company 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.