Landscape Capital Management L.L.C. Purchases 129,470 Shares of Paramount Global (NASDAQ:PARA)

by · The Markets Daily

Landscape Capital Management L.L.C. raised its position in shares of Paramount Global (NASDAQ:PARA – Free Report) by 200.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 194,166 shares of the company’s stock after purchasing an additional 129,470 shares during the period. Landscape Capital Management L.L.C.’s holdings in Paramount Global were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Lingotto Investment Management LLP raised its position in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after buying an additional 25,829,185 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Paramount Global by 6.5% during the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after buying an additional 3,803,928 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Paramount Global by 323.5% during the first quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock valued at $32,417,000 after buying an additional 2,103,938 shares during the last quarter. Ariel Investments LLC grew its stake in shares of Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after buying an additional 1,992,576 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Paramount Global by 602.8% in the second 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 during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 5.0 %

Shares of PARA stock opened at $11.11 on Friday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $7.41 billion, a PE ratio of -1.35, a PEG ratio of 1.25 and a beta of 1.74. The stock has a fifty day simple moving average of $10.65 and a two-hundred day simple moving average of $11.02.

Paramount Global (NASDAQ:PARA – Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate 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 business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue was down 5.6% on a year-over-year basis. On average, analysts predict that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

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 issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is -2.43%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Guggenheim lowered their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Paramount Global currently has a consensus rating of “Hold” and a consensus target price of $12.40.

View Our Latest Stock Report on Paramount Global

About Paramount Global

(Free Report)

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.

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