Scotia Capital Inc. Sells 190,110 Shares of Paramount Global (NASDAQ:PARA)

Scotia Capital Inc. decreased its position in shares of Paramount Global (NASDAQ:PARA) by 34.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 355,548 shares of the company’s stock after selling 190,110 shares during the quarter. Scotia Capital Inc. owned approximately 0.05% of Paramount Global worth $3,719,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP raised its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares in the last quarter. Insight Inv LLC raised its position in shares of Paramount Global by 9.8% in the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after acquiring an additional 1,825 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Paramount Global by 3.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company’s stock worth $531,000 after purchasing an additional 1,848 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Paramount Global by 7.0% during the 4th quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock worth $293,000 after purchasing an additional 1,874 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its position in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after purchasing an additional 2,019 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research report on Wednesday, April 2nd. StockNews.com started coverage on shares of Paramount Global in a research note on Monday, April 7th. They issued a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Morgan Stanley upped their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and a consensus target price of $12.09.

Paramount Global Trading Down 2.1 %

Paramount Global stock opened at $10.69 on Friday. The stock has a 50-day moving average price of $11.36 and a 200 day moving average price of $10.95. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of -1.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. 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 (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Sell-side analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.87%. The ex-dividend date was Monday, March 17th. Paramount Global’s dividend payout ratio is currently -2.15%.

Paramount Global 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.