Migdal Insurance & Financial Holdings Ltd. Invests $233,000 in Paramount Global (NASDAQ:PARA)

Migdal Insurance & Financial Holdings Ltd. bought a new stake in Paramount Global (NASDAQ:PARA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 22,450 shares of the company’s stock, valued at approximately $233,000.

Several other large investors have also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new position in Paramount Global in the fourth quarter valued at $44,000. GAMMA Investing LLC purchased a new stake in shares of Paramount Global in the fourth quarter worth about $66,000. SageView Advisory Group LLC acquired a new stake in shares of Paramount Global in the first quarter valued at about $56,000. Bessemer Group Inc. raised its holdings in shares of Paramount Global by 40.9% during the 1st quarter. Bessemer Group Inc. now owns 5,868 shares of the company’s stock valued at $68,000 after buying an additional 1,704 shares during the period. Finally, Quest Partners LLC purchased a new position in Paramount Global in the 4th quarter worth approximately $98,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Down 2.2 %

Shares of PARA traded down $0.24 during midday trading on Thursday, reaching $10.46. 11,260,043 shares of the stock were exchanged, compared to its average volume of 17,177,545. The company has a market cap of $6.97 billion, a price-to-earnings ratio of -71.33, a P/E/G ratio of 0.62 and a beta of 1.78. The firm has a 50 day simple moving average of $10.99 and a 200-day simple moving average of $11.48. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Monday, September 16th. Paramount Global’s dividend payout ratio is currently -133.32%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Argus cut Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. The Goldman Sachs Group initiated coverage on Paramount Global in a report on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price on the stock. Evercore ISI lowered their price target on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a report on Tuesday, July 9th. Rosenblatt Securities reiterated a “neutral” rating and set a $14.00 target price on shares of Paramount Global in a research note on Tuesday, June 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Eleven analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.47.

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.