Metropolis Capital Ltd Buys 64,681 Shares of Paramount Global (NASDAQ:PARA)

Metropolis Capital Ltd boosted its stake in Paramount Global (NASDAQ:PARA) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,123,029 shares of the company’s stock after acquiring an additional 64,681 shares during the period. Paramount Global accounts for about 0.4% of Metropolis Capital Ltd’s holdings, making the stock its 16th biggest position. Metropolis Capital Ltd’s holdings in Paramount Global were worth $11,927,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in Paramount Global by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after acquiring an additional 934 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of Paramount Global by 5.3% in the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after purchasing an additional 1,002 shares during the period. Prestige Wealth Management Group LLC raised its position in shares of Paramount Global by 13.2% in the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after purchasing an additional 1,011 shares during the period. GAMMA Investing LLC raised its position in shares of Paramount Global by 22.8% in the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after purchasing an additional 1,067 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Paramount Global by 8.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after purchasing an additional 1,356 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $10.27 on Wednesday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The company has a fifty day moving average of $10.54 and a 200-day moving average of $11.16. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. Equities research analysts expect that Paramount Global will post 1.56 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.95%. Paramount Global’s payout ratio is currently -2.57%.

Analysts Set New Price Targets

PARA has been the topic of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Wolfe Research lowered shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price on the stock. in a report on Tuesday, July 9th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Finally, The Goldman Sachs Group started coverage on shares of Paramount Global in a report on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price on the stock. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.33.

About Paramount Global

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.