Paramount Global (NASDAQ:PARA) Shares Sold by Oak Thistle LLC

Oak Thistle LLC cut its position in shares of Paramount Global (NASDAQ:PARA) by 34.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,898 shares of the company’s stock after selling 13,231 shares during the quarter. Oak Thistle LLC’s holdings in Paramount Global were worth $293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PARA. VisionPoint Advisory Group LLC acquired a new stake in shares of Paramount Global in the third quarter valued at about $25,000. Anchor Investment Management LLC acquired a new stake in shares of Paramount Global in the fourth quarter valued at about $30,000. Archer Investment Corp acquired a new stake in Paramount Global during the 4th quarter valued at approximately $30,000. Friedenthal Financial acquired a new stake in Paramount Global during the 4th quarter valued at approximately $39,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Paramount Global during the 4th quarter valued at approximately $44,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PARA has been the subject of a number of recent analyst reports. Seaport Res Ptn lowered Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Rosenblatt Securities restated a “neutral” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Tuesday, June 4th. Wells Fargo & Company lowered Paramount Global from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $14.00 to $9.00 in a research note on Wednesday, June 12th. JPMorgan Chase & Co. reduced their target price on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.29.

Paramount Global Stock Performance

PARA traded down $0.25 during trading hours on Monday, hitting $10.14. The company’s stock had a trading volume of 10,771,636 shares, compared to its average volume of 18,812,258. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $6.76 billion, a PE ratio of -67.60, a PEG ratio of 0.32 and a beta of 1.78. The company has a 50-day simple moving average of $11.71 and a 200 day simple moving average of $12.37.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.73 billion. During the same period last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Paramount Global will post 1.31 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

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.