SG Americas Securities LLC Lowers Stock Position in Paramount Global (NASDAQ:PARA)

SG Americas Securities LLC trimmed its position in Paramount Global (NASDAQ:PARA) by 84.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,686 shares of the company’s stock after selling 194,624 shares during the quarter. SG Americas Securities LLC’s holdings in Paramount Global were worth $368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PARA. Atlas Capital Advisors LLC bought a new stake in shares of Paramount Global during the 2nd quarter valued at $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paramount Global in the 2nd quarter worth $43,000. SageView Advisory Group LLC bought a new stake in Paramount Global during the first quarter valued at about $56,000. GAMMA Investing LLC raised its holdings in Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after acquiring an additional 1,067 shares during the period. Finally, Redwood Wealth Management Group LLC purchased a new position in shares of Paramount Global in the second quarter valued at about $64,000. Institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PARA. Wolfe Research downgraded 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. The Goldman Sachs Group assumed coverage on shares of Paramount Global in a research report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Guggenheim cut their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus price target of $12.33.

Paramount Global Trading Up 1.2 %

Shares of PARA opened at $10.45 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $10.54 and its 200-day simple moving average is $11.19. The company has a market cap of $6.97 billion, a P/E ratio of -1.34, a P/E/G ratio of 0.58 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.40. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. As a group, analysts expect that Paramount Global will post 1.56 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is presently -2.57%.

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.