Koshinski Asset Management Inc. Takes $154,000 Position in Paramount Global (NASDAQ:PARA)

Koshinski Asset Management Inc. bought a new stake in Paramount Global (NASDAQ:PARA) during the fourth quarter, Holdings Channel reports. The institutional investor bought 10,394 shares of the company’s stock, valued at approximately $154,000.

A number of other large investors also recently made changes to their positions in PARA. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global in the 3rd quarter valued at about $25,000. Anchor Investment Management LLC acquired a new position in shares of Paramount Global in the 4th quarter valued at about $30,000. Cornerstone Planning Group LLC acquired a new position in shares of Paramount Global in the 2nd quarter valued at about $30,000. ICA Group Wealth Management LLC acquired a new position in Paramount Global in the fourth quarter worth approximately $32,000. Finally, WFA of San Diego LLC increased its holdings in Paramount Global by 635.0% in the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after buying an additional 2,286 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

PARA opened at $10.43 on Wednesday. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $24.00. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $11.61 and its two-hundred day moving average price is $12.88.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The company had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Paramount Global will post 1.17 EPS for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.92%. Paramount Global’s dividend payout ratio is presently -19.61%.

Analysts Set New Price Targets

PARA has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $15.00 to $18.00 in a research report on Wednesday, December 20th. Redburn Atlantic lowered shares of Paramount Global from a “neutral” rating to a “sell” rating and dropped their price target for the company from $17.00 to $11.00 in a research report on Thursday, January 11th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research report on Tuesday, January 9th. Finally, Morgan Stanley dropped their price target on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 27th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and an average target price of $13.79.

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.