Hexagon Capital Partners LLC Decreases Position in Paramount Global (NASDAQ:PARA)

Hexagon Capital Partners LLC decreased its stake in Paramount Global (NASDAQ:PARA) by 38.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,140 shares of the company’s stock after selling 3,161 shares during the period. Hexagon Capital Partners LLC’s holdings in Paramount Global were worth $55,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PARA. Royal London Asset Management Ltd. boosted its position in shares of Paramount Global by 10.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 238,973 shares of the company’s stock worth $3,534,000 after buying an additional 21,784 shares during the period. Vanguard Group Inc. increased its holdings in Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company’s stock worth $862,058,000 after purchasing an additional 626,256 shares during the last quarter. Cove Private Wealth LLC acquired a new position in shares of Paramount Global in the 4th quarter valued at approximately $808,000. Quadrature Capital Ltd purchased a new position in shares of Paramount Global during the 4th quarter valued at approximately $1,512,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Paramount Global during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PARA. Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reduced 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. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Nine analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.33.

Paramount Global Stock Performance

PARA stock opened at $10.35 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of -69.00, a PEG ratio of 0.59 and a beta of 1.75. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The stock’s fifty day moving average is $10.54 and its two-hundred day moving average is $11.24.

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

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is -133.33%.

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.