FNY Investment Advisers LLC Reduces Position in Paramount Global (NASDAQ:PARA)

FNY Investment Advisers LLC lessened its holdings in shares of Paramount Global (NASDAQ:PARA) by 39.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,219 shares of the company’s stock after selling 4,000 shares during the quarter. FNY Investment Advisers LLC’s holdings in Paramount Global were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Berkshire Hathaway Inc boosted its stake in shares of Paramount Global by 2.7% during the 4th quarter. Berkshire Hathaway Inc now owns 93,637,189 shares of the company’s stock worth $1,580,596,000 after acquiring an additional 2,420,679 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Paramount Global by 30.4% during the 1st quarter. BlackRock Inc. now owns 54,882,034 shares of the company’s stock valued at $1,224,418,000 after buying an additional 12,783,448 shares in the last quarter. State Street Corp lifted its stake in shares of Paramount Global by 7.3% during the 1st quarter. State Street Corp now owns 35,333,056 shares of the company’s stock valued at $796,459,000 after buying an additional 2,402,874 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Paramount Global by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 11,450,500 shares of the company’s stock valued at $255,814,000 after buying an additional 192,826 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Paramount Global by 0.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,827,484 shares of the company’s stock valued at $182,767,000 after buying an additional 79,641 shares in the last quarter. Hedge funds and other institutional investors own 72.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PARA. Wolfe Research cut shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $14.00 target price on the stock. in a research note on Friday, July 7th. StockNews.com assumed coverage on shares of Paramount Global in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Rosenblatt Securities reiterated a “sell” rating and issued a $12.00 price target on shares of Paramount Global in a research note on Tuesday, August 8th. Loop Capital upgraded shares of Paramount Global from a “sell” rating to a “hold” rating and set a $14.00 price target on the stock in a research note on Friday, May 26th. Finally, Evercore ISI decreased their price target on shares of Paramount Global from $18.00 to $15.00 and set an “in-line” rating on the stock in a research note on Monday, July 24th. Eight equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.16.

Paramount Global Stock Performance

Paramount Global stock traded up $0.27 during mid-day trading on Friday, reaching $14.06. 18,420,130 shares of the company traded hands, compared to its average volume of 10,798,158. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.17 and a quick ratio of 1.02. Paramount Global has a fifty-two week low of $12.84 and a fifty-two week high of $25.93. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of -7.48, a price-to-earnings-growth ratio of 5.31 and a beta of 1.66. The firm’s fifty day moving average is $15.03 and its two-hundred day moving average is $17.40.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Monday, August 7th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. The firm had revenue of $7.62 billion for the quarter, compared to analyst estimates of $7.44 billion. Paramount Global had a negative net margin of 3.89% and a positive return on equity of 2.15%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, equities research analysts expect that Paramount Global will post 0.46 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.42%. Paramount Global’s payout ratio is currently -10.64%.

Paramount Global Profile

Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.