Aristides Capital LLC Reduces Stock Holdings in Paramount Global (NASDAQ:PARA)

Aristides Capital LLC lessened its stake in shares of Paramount Global (NASDAQ:PARA) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,792 shares of the company’s stock after selling 2,430 shares during the quarter. Aristides Capital LLC’s holdings in Paramount Global were worth $1,494,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allworth Financial LP lifted its position in 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 during the last quarter. Insight Inv LLC increased its position in shares of Paramount Global by 9.8% during the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after purchasing an additional 1,825 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Paramount Global by 9.6% during the third quarter. Rockefeller Capital Management L.P. now owns 21,146 shares of the company’s stock worth $225,000 after purchasing an additional 1,845 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Paramount Global by 3.8% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company’s stock valued at $531,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of Paramount Global by 7.0% in the 4th quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock valued at $293,000 after purchasing an additional 1,874 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.07 on Friday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -1.35, a PEG ratio of 1.68 and a beta of 1.31. The business’s 50 day moving average is $11.38 and its two-hundred day moving average is $10.93. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. 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 (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Research analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.81%. Paramount Global’s dividend payout ratio is presently -2.15%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PARA shares. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley upped their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research note on Wednesday. Finally, StockNews.com assumed coverage on Paramount Global in a research report on Sunday, March 30th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.09.

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.