DRW Securities LLC Decreases Stock Holdings in Paramount Global (NASDAQ:PARA)

DRW Securities LLC reduced its holdings in Paramount Global (NASDAQ:PARA) by 56.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,285 shares of the company’s stock after selling 37,457 shares during the period. DRW Securities LLC’s holdings in Paramount Global were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PARA. Fisher Asset Management LLC boosted its holdings in shares of Paramount Global by 88.4% in the 3rd quarter. Fisher Asset Management LLC now owns 21,723 shares of the company’s stock worth $231,000 after purchasing an additional 10,192 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Paramount Global by 26.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 71,874 shares of the company’s stock worth $763,000 after acquiring an additional 15,053 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Paramount Global by 9.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 21,786 shares of the company’s stock worth $231,000 after acquiring an additional 1,846 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after acquiring an additional 1,030,592 shares during the period. Finally, Landscape Capital Management L.L.C. grew its position in Paramount Global by 200.1% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 194,166 shares of the company’s stock valued at $2,062,000 after acquiring an additional 129,470 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Macquarie restated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Guggenheim decreased their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.40.

Paramount Global Trading Up 1.2 %

NASDAQ PARA opened at $10.77 on Thursday. The firm has a market cap of $7.18 billion, a PE ratio of -1.31, a price-to-earnings-growth ratio of 1.34 and a beta of 1.74. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. 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 company has a 50 day moving average price of $10.68 and a 200 day moving average price of $10.95.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.86%. Paramount Global’s payout ratio is -2.43%.

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.