Hotchkis & Wiley Capital Management LLC Has $70.09 Million Stake in Paramount Global (NASDAQ:PARA)

Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Paramount Global (NASDAQ:PARA) by 0.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,599,524 shares of the company’s stock after purchasing an additional 4,130 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.99% of Paramount Global worth $70,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after acquiring an additional 1,030,592 shares during the period. Financial Counselors Inc. grew its position in shares of Paramount Global by 6.9% during the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after purchasing an additional 56,021 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of Paramount Global by 50.7% in the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after acquiring an additional 110,357 shares during the last quarter. HBK Investments L P purchased a new position in shares of Paramount Global during the third quarter valued at approximately $5,098,000. Finally, Hoertkorn Richard Charles boosted its position in shares of Paramount Global by 38.1% in the 3rd quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock worth $2,354,000 after purchasing an additional 61,191 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Benchmark restated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Guggenheim dropped their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Macquarie reiterated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.40.

Paramount Global Stock Performance

Shares of NASDAQ:PARA opened at $10.98 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average price of $10.70 and a two-hundred day moving average price of $10.91. 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 data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the previous year, the firm earned $0.30 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts forecast that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Announces Dividend

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 issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -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.