Choreo LLC Buys New Position in Paramount Global (NASDAQ:PARA)

Choreo LLC bought a new stake in shares of Paramount Global (NASDAQ:PARA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,198 shares of the company’s stock, valued at approximately $104,000.

Other large investors have also bought and sold shares of the company. ProShare Advisors LLC boosted its stake in Paramount Global by 146.5% during the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after buying an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Paramount Global by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock valued at $7,998,000 after purchasing an additional 34,541 shares during the last quarter. Financial Counselors Inc. lifted its holdings in shares of Paramount Global by 6.9% during the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after purchasing an additional 56,021 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Paramount Global by 33.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after purchasing an additional 103,103 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Paramount Global by 10.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,400 shares of the company’s stock valued at $169,000 after purchasing an additional 1,081 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Down 0.9 %

PARA opened at $10.37 on Friday. The business has a 50 day moving average price of $10.85 and a 200 day moving average price of $11.32. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. 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 firm has a market cap of $6.91 billion, a P/E 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. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Research analysts forecast that Paramount Global will post 1.57 EPS for the current year.

Paramount Global Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on PARA. Wolfe Research downgraded Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a report on Tuesday, July 9th. Evercore ISI reduced their target price on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a report on Tuesday, July 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 target price on shares of Paramount Global in a report on Tuesday, June 4th. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Eleven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Paramount Global has an average rating of “Hold” and an average target price 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.