HBK Investments L P Invests $5.10 Million in Paramount Global (NASDAQ:PARA)

HBK Investments L P acquired a new position in Paramount Global (NASDAQ:PARA) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 480,001 shares of the company’s stock, valued at approximately $5,098,000. HBK Investments L P owned approximately 0.07% of Paramount Global at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Great Valley Advisor Group Inc. increased its stake in shares of Paramount Global by 5.3% in the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after purchasing an additional 1,002 shares in the last quarter. Carson Advisory Inc. increased its stake in shares of Paramount Global by 1.9% in the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after purchasing an additional 1,004 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in shares of Paramount Global by 13.2% in the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after purchasing an additional 1,011 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after acquiring an additional 1,067 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Paramount Global by 8.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after acquiring an additional 1,356 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PARA shares. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Guggenheim dropped their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.40.

Paramount Global Price Performance

Paramount Global stock opened at $10.77 on Friday. The firm has a 50-day moving average price of $10.68 and a 200-day moving average price of $10.95. The firm has a market capitalization of $7.18 billion, a PE ratio of -1.31, a price-to-earnings-growth ratio of 1.30 and a beta of 1.74. 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 $17.50.

Paramount Global (NASDAQ:PARA) last released its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter last year, the business earned $0.30 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.86%. Paramount Global’s payout ratio is -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.