Marathon Trading Investment Management LLC Reduces Stock Position in Paramount Global (NASDAQ:PARA)

Marathon Trading Investment Management LLC trimmed its holdings in Paramount Global (NASDAQ:PARA) by 41.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,020 shares of the company’s stock after selling 16,525 shares during the period. Marathon Trading Investment Management LLC’s holdings in Paramount Global were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PARA. Swiss National Bank grew its position in shares of Paramount Global by 12.6% in the third quarter. Swiss National Bank now owns 1,765,188 shares of the company’s stock valued at $18,746,000 after purchasing an additional 197,300 shares in the last quarter. AM Squared Ltd grew its holdings in Paramount Global by 32.9% during the 3rd quarter. AM Squared Ltd now owns 19,400 shares of the company’s stock valued at $206,000 after buying an additional 4,800 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Paramount Global by 17.4% during the third quarter. Mutual of America Capital Management LLC now owns 73,219 shares of the company’s stock valued at $778,000 after buying an additional 10,877 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Paramount Global by 10.4% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock valued at $187,000 after acquiring an additional 1,663 shares during the period. Finally, Kentucky Retirement Systems grew its stake in Paramount Global by 11.2% during the third quarter. Kentucky Retirement Systems now owns 41,431 shares of the company’s stock valued at $440,000 after acquiring an additional 4,178 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

NASDAQ PARA opened at $10.84 on Friday. The company has a 50-day simple moving average of $10.61 and a two-hundred day simple moving average of $11.08. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Paramount Global’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. As a group, equities analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is -2.43%.

Analysts Set New Price Targets

PARA has been the subject of several analyst reports. Guggenheim reduced their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Macquarie reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average price target of $12.40.

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.