Paramount Global (NASDAQ:PARA) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in Paramount Global (NASDAQ:PARA) by 30.3% in the 4th quarter, Holdings Channel reports. The firm owned 26,730 shares of the company’s stock after purchasing an additional 6,217 shares during the period. NEOS Investment Management LLC’s holdings in Paramount Global were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in Paramount Global during the 4th quarter worth approximately $31,000. Rakuten Securities Inc. boosted its position in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after buying an additional 2,019 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Paramount Global in the fourth quarter worth $57,000. Finally, FNY Investment Advisers LLC increased its position in shares of Paramount Global by 102.4% during the fourth 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 during the period. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PARA. Guggenheim reiterated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley upped their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. StockNews.com initiated coverage on shares of Paramount Global in a research note on Sunday. They issued a “hold” rating for the company. Benchmark reissued a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.10.

Paramount Global Stock Up 3.5 %

Paramount Global stock opened at $11.96 on Tuesday. The company has a market capitalization of $7.98 billion, a P/E ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.60. 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 has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The stock has a 50-day simple moving average of $11.31 and a 200-day simple moving average of $10.91.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data 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 firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Equities research analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, March 17th. Paramount Global’s payout ratio is currently -2.15%.

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.