Y Intercept Hong Kong Ltd Makes New Investment in Paramount Global (NASDAQ:PARA)

Y Intercept Hong Kong Ltd bought a new position in shares of Paramount Global (NASDAQ:PARA) during the fourth quarter, HoldingsChannel.com reports. The firm bought 163,698 shares of the company’s stock, valued at approximately $1,712,000.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Paramount Global by 12.1% in the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after acquiring an additional 1,606,779 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after acquiring an additional 1,030,592 shares during the last quarter. Allianz Asset Management GmbH increased its position in Paramount Global by 48.1% during the 4th quarter. Allianz Asset Management GmbH now owns 2,425,849 shares of the company’s stock worth $25,374,000 after purchasing an additional 787,516 shares in the last quarter. Finally, Wilsey Asset Management Inc. raised its stake in Paramount Global by 16.2% in the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after purchasing an additional 265,408 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PARA has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie restated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their target price 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. Six analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.58.

Paramount Global Stock Down 1.5 %

Shares of NASDAQ PARA opened at $11.50 on Wednesday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The firm has a fifty day moving average of $10.77 and a 200-day moving average of $10.73. The stock has a market capitalization of $7.67 billion, a PE ratio of -1.40, a P/E/G ratio of 1.68 and a beta of 1.69. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.74%. Paramount Global’s dividend payout ratio is presently -2.43%.

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.