Hexagon Capital Partners LLC Decreases Stake in Paramount Global (NASDAQ:PARA)

Hexagon Capital Partners LLC decreased its holdings in Paramount Global (NASDAQ:PARA) by 38.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,140 shares of the company’s stock after selling 3,161 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Paramount Global were worth $55,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PARA. Atlas Capital Advisors LLC acquired a new stake in shares of Paramount Global in the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new position in Paramount Global during the second quarter worth about $43,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Paramount Global in the fourth quarter valued at about $44,000. SageView Advisory Group LLC acquired a new stake in shares of Paramount Global in the first quarter valued at approximately $56,000. Finally, GAMMA Investing LLC increased its stake in shares of Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Price Performance

PARA stock opened at $10.35 on Friday. The stock has a 50-day moving average price of $10.54 and a two-hundred day moving average price of $11.24. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The company has a market cap of $6.90 billion, a PE ratio of -69.00, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75.

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, beating analysts’ consensus estimates 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 firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. As a group, research analysts predict that Paramount Global will post 1.56 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is presently -133.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Evercore ISI lowered their target price on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Guggenheim cut their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Wolfe Research cut Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target for the company. in a report on Tuesday, July 9th. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.33.

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.