Round Hill Asset Management Sells 12,322 Shares of Paramount Global (NASDAQ:PARA)

Round Hill Asset Management cut its stake in shares of Paramount Global (NASDAQ:PARA) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,424 shares of the company’s stock after selling 12,322 shares during the period. Round Hill Asset Management’s holdings in Paramount Global were worth $695,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares in the last quarter. Insight Inv LLC raised its holdings in Paramount Global by 9.8% during the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after acquiring an additional 1,825 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Paramount Global by 9.6% in the third quarter. Rockefeller Capital Management L.P. now owns 21,146 shares of the company’s stock valued at $225,000 after acquiring an additional 1,845 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Paramount Global by 3.8% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company’s stock worth $531,000 after acquiring an additional 1,848 shares during the period. Finally, Perigon Wealth Management LLC grew its position in shares of Paramount Global by 7.0% during the fourth 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 in the last quarter. Institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PARA shares. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. StockNews.com started coverage on shares of Paramount Global in a research note on Monday. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday, April 2nd. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.09.

Paramount Global Trading Down 3.6 %

Shares of NASDAQ PARA opened at $11.07 on Monday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business’s 50 day moving average is $11.38 and its two-hundred day moving average is $10.94. The stock has a market capitalization of $7.38 billion, a P/E ratio of -1.35, a PEG ratio of 1.68 and a beta of 1.31.

Paramount Global (NASDAQ:PARA) last released its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate 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, research analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

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

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.