Moors & Cabot Inc. Sells 18,677 Shares of Paramount Global (NASDAQ:PARA)

Moors & Cabot Inc. lowered its holdings in shares of Paramount Global (NASDAQ:PARA) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,894 shares of the company’s stock after selling 18,677 shares during the quarter. Moors & Cabot Inc.’s holdings in Paramount Global were worth $2,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of PARA. 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 worth $25,000 after purchasing an additional 1,395 shares during the period. Huntington National Bank boosted its stake in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Paramount Global during the 4th quarter worth about $57,000. FNY Investment Advisers LLC boosted its stake in shares of Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after purchasing an additional 3,654 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in shares of Paramount Global during the 4th quarter worth about $88,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 1.0 %

NASDAQ PARA opened at $11.58 on Thursday. 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 has a market capitalization of $7.72 billion, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The company’s 50-day simple moving average is $11.01 and its two-hundred day simple moving average is $10.79. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Equities analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is currently -2.15%.

Wall Street Analyst Weigh In

PARA has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reiterated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Morgan Stanley lifted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.10.

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.