Ingalls & Snyder LLC Decreases Holdings in Paramount Global (NASDAQ:PARA)

Ingalls & Snyder LLC reduced its position in Paramount Global (NASDAQ:PARA) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 160,481 shares of the company’s stock after selling 1,740 shares during the period. Ingalls & Snyder LLC’s holdings in Paramount Global were worth $1,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. increased its position in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after buying an additional 1,573 shares in the last quarter. Huntington National Bank boosted its stake in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in Paramount Global during the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paramount Global in the second quarter worth $43,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Paramount Global during the third quarter worth $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

PARA has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Guggenheim reduced their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Macquarie reaffirmed an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.40.

Paramount Global Stock Down 0.5 %

PARA opened at $10.92 on Wednesday. The firm’s fifty day simple moving average is $10.71 and its two-hundred day simple moving average is $10.90. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Paramount Global’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. As a group, research analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm 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 1.83%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is -2.43%.

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.