Loomis Sayles & Co. L P Has $40.32 Million Stake in Paramount Global (NASDAQ:PARA)

Loomis Sayles & Co. L P reduced its stake in shares of Paramount Global (NASDAQ:PARA) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,854,751 shares of the company’s stock after selling 109,465 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Paramount Global were worth $40,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. NEOS Investment Management LLC grew its holdings in Paramount Global by 30.3% during the fourth quarter. NEOS Investment Management LLC now owns 26,730 shares of the company’s stock valued at $280,000 after purchasing an additional 6,217 shares during the period. UniSuper Management Pty Ltd increased its position in shares of Paramount Global by 15.0% in the 4th quarter. UniSuper Management Pty Ltd now owns 143,408 shares of the company’s stock valued at $1,500,000 after buying an additional 18,699 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in Paramount Global during the 4th quarter worth $127,000. Prestige Wealth Management Group LLC lifted its holdings in Paramount Global by 35.9% during the fourth quarter. Prestige Wealth Management Group LLC now owns 12,762 shares of the company’s stock worth $134,000 after acquiring an additional 3,374 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new position in Paramount Global during the fourth quarter worth about $31,000. 73.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PARA has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. StockNews.com started coverage on shares of Paramount Global in a research report on Saturday, March 22nd. They issued a “hold” rating on the stock. Finally, Guggenheim reiterated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Down 1.5 %

PARA stock opened at $11.68 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company has a market cap of $7.79 billion, a price-to-earnings ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average price of $11.25 and a two-hundred day moving average price of $10.87.

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

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.71%. Paramount Global’s dividend payout ratio (DPR) 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.