Mutual of America Capital Management LLC Sells 1,956 Shares of Paramount Global (NASDAQ:PARA)

Mutual of America Capital Management LLC lowered its stake in Paramount Global (NASDAQ:PARA) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,263 shares of the company’s stock after selling 1,956 shares during the period. Mutual of America Capital Management LLC’s holdings in Paramount Global were worth $745,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of 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 purchasing an additional 1,395 shares in the last quarter. Huntington National Bank boosted its position in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Paramount Global during the 3rd quarter worth approximately $47,000. FNY Investment Advisers LLC raised its position in shares of Paramount Global by 102.4% in the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after acquiring an additional 3,654 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of Paramount Global in the 4th quarter valued at approximately $88,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of PARA opened at $12.14 on Monday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company has a market capitalization of $8.10 billion, a P/E ratio of -1.48, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The firm has a 50 day moving average of $10.94 and a 200 day moving average of $10.77. 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 (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. As a group, equities research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 1.65%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PARA shares. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley lifted their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Benchmark restated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Macquarie reiterated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.