Robeco Institutional Asset Management B.V. Decreases Stock Holdings in Paramount Global (NASDAQ:PARA)

Posted by on Oct 14th, 2023

Robeco Institutional Asset Management B.V. reduced its stake in Paramount Global (NASDAQ:PARA – Free Report) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,430 shares of the company’s stock after selling 1,090 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Paramount Global were worth $1,407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its position in shares of Paramount Global by 130.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the company’s stock valued at $27,000 after purchasing an additional 685 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Paramount Global in the 4th quarter valued at approximately $32,000. Pacific Center for Financial Services purchased a new position in shares of Paramount Global in the 1st quarter valued at approximately $35,000. Horrell Capital Management Inc. raised its position in shares of Paramount Global by 61.3% in the 1st quarter. Horrell Capital Management Inc. now owns 1,613 shares of the company’s stock valued at $36,000 after purchasing an additional 613 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Paramount Global in the 1st quarter valued at approximately $36,000. 72.39% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Up 1.4 %

Shares of NASDAQ:PARA opened at $11.90 on Friday. Paramount Global has a 1 year low of $11.39 and a 1 year high of $25.93. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of -6.33, a price-to-earnings-growth ratio of 3.89 and a beta of 1.68. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.17 and a quick ratio of 1.02. The business’s 50 day moving average price is $13.72 and its 200-day moving average price is $16.27.

Paramount Global (NASDAQ:PARA – Get Free Report) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $7.44 billion. Paramount Global had a positive return on equity of 2.15% and a negative net margin of 3.89%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Paramount Global will post 0.41 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. Paramount Global’s payout ratio is currently -10.64%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Rosenblatt Securities reaffirmed a “sell” rating and issued a $12.00 price objective on shares of Paramount Global in a research report on Tuesday, August 8th. Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $14.00 price target on the stock. in a report on Friday, July 7th. UBS Group cut their price target on shares of Paramount Global from $15.00 to $14.00 in a report on Wednesday, July 5th. JPMorgan Chase & Co. increased their price target on shares of Paramount Global from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Tuesday, August 8th. Finally, Raymond James began coverage on shares of Paramount Global in a report on Monday, September 18th. They issued a “market perform” rating on the stock. Ten analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.85.

Get Our Latest Research Report on PARA

About Paramount Global

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

Receive News & Ratings for Paramount Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Global and related companies with MarketBeat.com's FREE daily email newsletter.