Orion Portfolio Solutions LLC Invests $692,000 in Paramount Global (NASDAQ:PARA)

Orion Portfolio Solutions LLC acquired a new stake in shares of Paramount Global (NASDAQ:PARA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 65,134 shares of the company’s stock, valued at approximately $692,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lingotto Investment Management LLP grew its holdings in shares of Paramount Global by 628.8% during the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares during the last quarter. State Street Corp lifted its position in Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after acquiring an additional 6,848,037 shares in the last quarter. Ariel Investments LLC boosted its stake in Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after purchasing an additional 1,992,576 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Paramount Global by 602.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after purchasing an additional 1,529,719 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PARA has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie restated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Finally, 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. Seven research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global currently has an average rating of “Hold” and an average target price of $12.43.

Paramount Global Stock Down 1.7 %

NASDAQ PARA opened at $10.98 on Tuesday. The stock’s 50-day moving average price is $10.82 and its 200-day moving average price is $10.84. The company has a market capitalization of $7.32 billion, a P/E ratio of -1.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52 week low of $9.54 and a 52 week high of $16.30.

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

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 dividend on an annualized basis and a yield of 1.82%. Paramount Global’s payout ratio is presently -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.