Lebenthal Global Advisors LLC Has $597,000 Stock Position in Paramount Global (NASDAQ:PARA)

Lebenthal Global Advisors LLC decreased its position in Paramount Global (NASDAQ:PARA) by 4.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 56,245 shares of the company’s stock after selling 2,615 shares during the period. Lebenthal Global Advisors LLC’s holdings in Paramount Global were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd acquired a new position in Paramount Global in the 3rd quarter valued at approximately $7,222,000. Pinnacle Associates Ltd. raised its holdings in Paramount Global by 9.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 171,695 shares of the company’s stock valued at $1,823,000 after acquiring an additional 14,334 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Paramount Global by 28.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 69,076 shares of the company’s stock valued at $733,000 after acquiring an additional 15,320 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in Paramount Global by 157.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 63,328 shares of the company’s stock valued at $673,000 after acquiring an additional 38,720 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Paramount Global by 119.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,659 shares of the company’s stock worth $514,000 after buying an additional 25,972 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

PARA has been the subject of a number of recent research reports. Evercore ISI dropped their target price on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a report on Tuesday, July 9th. Guggenheim dropped their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Finally, Wolfe Research cut Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a report on Tuesday, July 9th. Nine research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.33.

Paramount Global Trading Down 0.1 %

PARA traded down $0.01 during mid-day trading on Friday, reaching $10.93. The stock had a trading volume of 764,028 shares, compared to its average volume of 15,001,686. The stock has a market capitalization of $7.29 billion, a P/E ratio of -1.40, a P/E/G ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The firm’s fifty day simple moving average is $10.49 and its two-hundred day simple moving average is $11.12. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. On average, equities analysts predict that Paramount Global will post 1.61 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.83%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is presently -2.57%.

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.