AlphaQuest LLC Acquires 24,756 Shares of Paramount Global (NASDAQ:PARA)

AlphaQuest LLC lifted its holdings in Paramount Global (NASDAQ:PARA) by 89.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 52,456 shares of the company’s stock after buying an additional 24,756 shares during the period. AlphaQuest LLC’s holdings in Paramount Global were worth $549,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Paramount Global by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after buying an additional 1,481 shares during the period. Huntington National Bank grew its stake in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Paramount Global by 10.4% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock valued at $187,000 after buying an additional 1,663 shares during the period. Finally, Insight Inv LLC grew its stake in shares of Paramount Global by 9.8% in the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after buying an additional 1,825 shares during the period. 73.00% of the stock is owned by institutional investors.

Paramount Global Trading Up 1.0 %

NASDAQ:PARA opened at $11.58 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $7.72 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The firm’s 50 day moving average is $11.01 and its 200 day moving average is $10.79. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54.

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

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.73%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley lifted their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim restated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus 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.