Virtu Financial LLC Boosts Stake in Paramount Global (NASDAQ:PARA)

Virtu Financial LLC grew its stake in Paramount Global (NASDAQ:PARA) by 90.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,095 shares of the company’s stock after acquiring an additional 16,670 shares during the quarter. Virtu Financial LLC’s holdings in Paramount Global were worth $367,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PARA. Quantbot Technologies LP purchased a new position in Paramount Global in the fourth quarter valued at about $6,400,000. Contrarius Group Holdings Ltd purchased a new position in shares of Paramount Global in the 4th quarter worth approximately $146,230,000. one8zero8 LLC purchased a new position in shares of Paramount Global in the 4th quarter worth approximately $137,000. Natixis Advisors LLC bought a new position in shares of Paramount Global during the 4th quarter worth approximately $274,000. Finally, Greatmark Investment Partners Inc. lifted its position in Paramount Global by 68.2% during the fourth quarter. Greatmark Investment Partners Inc. now owns 127,410 shares of the company’s stock valued at $1,333,000 after acquiring an additional 51,656 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $11.86 on Thursday. The company has a 50 day simple moving average of $11.22 and a two-hundred day simple moving average of $10.87. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of -1.44, a PEG ratio of 1.68 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54.

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

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com began coverage on Paramount Global in a research report on Saturday, March 22nd. They set a “hold” rating on the stock. Morgan Stanley raised their price target on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.10.

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.