Moors & Cabot Inc. Has $3.20 Million Stake in Paramount Global (NASDAQ:PARA)

Moors & Cabot Inc. reduced its stake in Paramount Global (NASDAQ:PARA) by 0.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 301,571 shares of the company’s stock after selling 2,222 shares during the quarter. Moors & Cabot Inc.’s holdings in Paramount Global were worth $3,203,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Paramount Global by 46.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 388,616 shares of the company’s stock valued at $4,571,000 after acquiring an additional 122,613 shares in the last quarter. Vanguard Group Inc. raised its stake in Paramount Global by 6.5% during the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after buying an additional 3,803,928 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in Paramount Global by 975.4% during the first quarter. UniSuper Management Pty Ltd now owns 87,573 shares of the company’s stock valued at $1,031,000 after buying an additional 79,430 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Paramount Global by 40.9% in the first quarter. Bessemer Group Inc. now owns 5,868 shares of the company’s stock worth $68,000 after purchasing an additional 1,704 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in 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 acquiring an additional 103,103 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PARA. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research report on Friday, August 9th. Finally, Guggenheim dropped their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Paramount Global has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Price Performance

Shares of PARA stock opened at $10.58 on Thursday. Paramount Global has a one year low of $9.54 and a one year 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. The company’s fifty day moving average price is $10.64 and its 200-day moving average price is $11.02.

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

Paramount Global Announces Dividend

The business 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 1.89%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is -2.43%.

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.