Seven Mile Advisory Purchases Shares of 17,772 Paramount Global (NASDAQ:PARA)

Seven Mile Advisory acquired a new position in shares of Paramount Global (NASDAQ:PARA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,772 shares of the company’s stock, valued at approximately $186,000.

A number of other large investors have also bought and sold shares of PARA. Allworth Financial LP grew its holdings in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares in the last quarter. Insight Inv LLC lifted its holdings in Paramount Global by 9.8% in the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after buying an additional 1,825 shares during the period. Rockefeller Capital Management L.P. boosted its position in Paramount Global by 9.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,146 shares of the company’s stock valued at $225,000 after acquiring an additional 1,845 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in Paramount Global by 3.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company’s stock valued at $531,000 after acquiring an additional 1,848 shares during the period. Finally, Perigon Wealth Management LLC grew its stake in shares of Paramount Global by 7.0% in the fourth quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock worth $293,000 after acquiring an additional 1,874 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Down 1.0 %

PARA stock opened at $11.56 on Monday. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm’s fifty day moving average is $11.28 and its 200 day moving average is $10.90. The firm has a market cap of $7.71 billion, a PE ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, research analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. Paramount Global’s dividend payout ratio is currently -2.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com started coverage on Paramount Global in a research report on Sunday. They issued a “hold” rating for the company. Morgan Stanley lifted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim restated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.10.

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.