Paramount Global (NASDAQ:PARA) Shares Sold by Community Bank of Raymore

Community Bank of Raymore lowered its holdings in Paramount Global (NASDAQ:PARA) by 46.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,880 shares of the company’s stock after selling 11,000 shares during the quarter. Community Bank of Raymore’s holdings in Paramount Global were worth $137,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in Paramount Global by 146.5% in the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after acquiring an additional 90,262 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Paramount Global by 5.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after buying an additional 34,541 shares during the last quarter. Financial Counselors Inc. raised its stake in shares of Paramount Global by 6.9% during the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock worth $8,980,000 after buying an additional 56,021 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Paramount Global by 33.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock worth $4,790,000 after buying an additional 103,103 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Paramount Global by 798.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 684,300 shares of the company’s stock worth $7,110,000 after buying an additional 608,100 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Up 0.2 %

PARA opened at $10.52 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of -1.35, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The business has a 50-day moving average of $10.54 and a two-hundred day moving average of $11.21. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.14 by $0.40. The company had revenue of $6.81 billion during 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 expect that Paramount Global will post 1.56 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is currently -2.57%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PARA. The Goldman Sachs Group began coverage on Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 price target for the company. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Finally, Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Nine investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.