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, 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.

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

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