Foundation Resource Management Inc. Buys 20,979 Shares of Paramount Global (NASDAQ:PARA)

Foundation Resource Management Inc. lifted its position in shares of Paramount Global (NASDAQ:PARA) by 2.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,045,937 shares of the company’s stock after purchasing an additional 20,979 shares during the quarter. Paramount Global accounts for 2.8% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 14th largest holding. Foundation Resource Management Inc. owned 0.16% of Paramount Global worth $16,641,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Independent Wealth Network Inc. raised its position in Paramount Global by 6.0% in the 1st quarter. Independent Wealth Network Inc. now owns 10,845 shares of the company’s stock valued at $242,000 after buying an additional 612 shares during the last quarter. Horrell Capital Management Inc. boosted its holdings in Paramount Global by 61.3% during the first quarter. Horrell Capital Management Inc. now owns 1,613 shares of the company’s stock worth $36,000 after purchasing an additional 613 shares during the last quarter. IFG Advisory LLC increased its stake in Paramount Global by 0.9% in the 1st quarter. IFG Advisory LLC now owns 72,884 shares of the company’s stock valued at $1,626,000 after buying an additional 625 shares during the last quarter. Mendota Financial Group LLC boosted its stake in shares of Paramount Global by 8.7% in the 1st quarter. Mendota Financial Group LLC now owns 8,160 shares of the company’s stock worth $309,000 after buying an additional 650 shares during the last quarter. Finally, Ellevest Inc. increased its position in shares of Paramount Global by 65.3% during the first quarter. Ellevest Inc. now owns 1,701 shares of the company’s stock valued at $38,000 after acquiring an additional 672 shares during the last quarter. 72.39% of the stock is currently owned by institutional investors.

Paramount Global Trading Up 0.1 %

NASDAQ:PARA traded up $0.02 during mid-day trading on Tuesday, reaching $13.62. 2,062,528 shares of the company’s stock traded hands, compared to its average volume of 12,683,771. 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 12-month low of $12.84 and a 12-month high of $25.93. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of -7.26, a PEG ratio of 5.41 and a beta of 1.66. The company has a 50 day moving average price of $14.98 and a 200-day moving average price of $17.30.

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

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Thursday, September 14th. Paramount Global’s dividend payout ratio (DPR) is presently -10.64%.

Analyst Ratings Changes

PARA has been the topic of a number of recent analyst reports. Evercore ISI lowered their target price on 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. Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $14.00 target price for the company. in a research report on Friday, July 7th. Raymond James initiated coverage on Paramount Global in a report on Monday. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Paramount Global from $25.00 to $24.00 in a report on Tuesday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Paramount Global in a report on Tuesday, August 8th. Eight investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.16.

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.