Arete Wealth Advisors LLC Takes $288,000 Position in Paramount Global (NASDAQ:PARA)

Arete Wealth Advisors LLC acquired a new stake in Paramount Global (NASDAQ:PARA) in the 3rd quarter, Holdings Channel reports. The fund acquired 27,098 shares of the company’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Paramount Global in the second quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paramount Global in the second quarter valued at approximately $43,000. Finally, Kennebec Savings Bank bought a new position in shares of Paramount Global in the third quarter valued at approximately $47,000. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Down 3.5 %

Shares of NASDAQ:PARA opened at $11.22 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $7.48 billion, a PE ratio of -1.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. Paramount Global has a 52 week low of $9.54 and a 52 week high of $16.83. The firm has a 50 day simple moving average of $10.81 and a 200 day simple moving average of $10.86.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating 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 business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts expect that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. Paramount Global’s payout ratio is -2.43%.

Analyst Upgrades and Downgrades

PARA has been the subject of several recent analyst reports. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim cut 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 note on Wednesday, September 25th. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.43.

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.