New Age Alpha Advisors LLC Buys New Position in Paramount Global (NASDAQ:PARA)

New Age Alpha Advisors LLC bought a new position in shares of Paramount Global (NASDAQ:PARAFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $740,000. Paramount Global accounts for about 0.6% of New Age Alpha Advisors LLC’s investment portfolio, making the stock its 27th largest position.

A number of other hedge funds have also added to or reduced their stakes in PARA. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global during the third quarter valued at about $25,000. Anchor Investment Management LLC acquired a new position in Paramount Global during the 4th quarter worth approximately $30,000. Archer Investment Corp acquired a new position in Paramount Global during the 4th quarter worth approximately $30,000. NBC Securities Inc. bought a new position in Paramount Global in the third quarter worth approximately $38,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Paramount Global by 55.1% during the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock valued at $38,000 after acquiring an additional 1,056 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Performance

NASDAQ PARA traded down $0.56 on Tuesday, hitting $12.24. 18,274,410 shares of the stock traded hands, compared to its average volume of 19,149,520. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The business’s fifty day moving average is $12.06 and its two-hundred day moving average is $12.97. Paramount Global has a 12 month low of $10.12 and a 12 month high of $17.50. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of -85.33, a PEG ratio of 0.36 and a beta of 1.78.

Paramount Global (NASDAQ:PARAGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Monday, June 17th. Paramount Global’s payout ratio is currently -133.32%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PARA. Needham & Company LLC downgraded shares of Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Raymond James reissued a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. JPMorgan Chase & Co. dropped their price target on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Finally, Seaport Res Ptn downgraded Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus target price of $13.63.

Check Out Our Latest Report on Paramount Global

Paramount Global Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PARA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paramount Global (NASDAQ:PARAFree Report).

Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

Receive News & Ratings for Paramount Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Global and related companies with MarketBeat.com's FREE daily email newsletter.