Valeo Financial Advisors LLC Decreases Position in Paramount Global (NASDAQ:PARA)

Valeo Financial Advisors LLC trimmed its holdings in shares of Paramount Global (NASDAQ:PARA) by 23.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,894 shares of the company’s stock after selling 4,270 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Paramount Global were worth $144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PARA. Linden Thomas Advisory Services LLC increased its stake in Paramount Global by 63.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 81,114 shares of the company’s stock valued at $843,000 after purchasing an additional 31,533 shares in the last quarter. CWM LLC increased its position in shares of Paramount Global by 79.0% in the 2nd quarter. CWM LLC now owns 17,651 shares of the company’s stock valued at $183,000 after acquiring an additional 7,791 shares during the period. Thompson Investment Management Inc. raised its stake in Paramount Global by 1.1% in the 2nd quarter. Thompson Investment Management Inc. now owns 662,654 shares of the company’s stock worth $6,885,000 after acquiring an additional 6,974 shares during the last quarter. Stonehearth Capital Management LLC lifted its position in Paramount Global by 11.1% during the 2nd quarter. Stonehearth Capital Management LLC now owns 14,808 shares of the company’s stock worth $154,000 after acquiring an additional 1,474 shares during the period. Finally, DNB Asset Management AS grew its stake in Paramount Global by 32.5% during the 2nd quarter. DNB Asset Management AS now owns 91,964 shares of the company’s stock valued at $956,000 after purchasing an additional 22,550 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Argus lowered Paramount Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Seaport Res Ptn cut shares of Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Tuesday, July 9th. Evercore ISI cut their price target on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research report on Tuesday, July 9th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.94.

Paramount Global Price Performance

PARA stock traded up $0.12 during mid-day trading on Friday, reaching $10.33. The company’s stock had a trading volume of 5,730,292 shares, compared to its average volume of 17,712,268. The stock has a market cap of $6.88 billion, a PE ratio of -69.33, a P/E/G ratio of 0.76 and a beta of 1.78. The company’s 50 day moving average is $11.10 and its two-hundred day moving average is $11.79. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.21 billion. Equities research analysts expect that Paramount Global will post 1.34 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.94%. Paramount Global’s dividend payout ratio is currently -133.32%.

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.