Pingora Partners LLC Buys 10,736 Shares of Paramount Global (NASDAQ:PARA)

Pingora Partners LLC increased its position in shares of Paramount Global (NASDAQ:PARA) by 28.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,444 shares of the company’s stock after acquiring an additional 10,736 shares during the quarter. Pingora Partners LLC’s holdings in Paramount Global were worth $514,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased 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 worth $26,000 after acquiring an additional 1,573 shares in the last quarter. Huntington National Bank increased its stake in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in Paramount Global during the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC bought a new position in Paramount Global in the second quarter valued at approximately $43,000. Finally, Kennebec Savings Bank acquired a new position in shares of Paramount Global in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Down 0.5 %

Shares of NASDAQ:PARA opened at $10.92 on Wednesday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The business has a 50 day moving average of $10.72 and a 200-day moving average of $10.89. 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 stock has a market cap of $7.28 billion, a PE ratio of -1.33, a P/E/G ratio of 1.33 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. As a group, equities research analysts forecast that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.83%. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Guggenheim reduced 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. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark reissued a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Macquarie reaffirmed an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and a consensus target price of $12.40.

About Paramount Global

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.