Cullen Investment Group LTD. Buys Shares of 80,306 Paramount Global (NASDAQ:PARA)

Cullen Investment Group LTD. bought a new stake in shares of Paramount Global (NASDAQ:PARA) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 80,306 shares of the company’s stock, valued at approximately $1,188,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PARA. International Assets Investment Management LLC increased its position in shares of Paramount Global by 541.7% in the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock valued at $10,481,000 after buying an additional 598,235 shares in the last quarter. Ariel Investments LLC increased its position in shares of Paramount Global by 18.0% in the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock valued at $146,168,000 after buying an additional 1,731,714 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Paramount Global in the 3rd quarter valued at $1,240,000. Caprock Group LLC increased its position in shares of Paramount Global by 2.9% in the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock valued at $746,000 after buying an additional 1,401 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Paramount Global in the 4th quarter valued at $2,379,000. Institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

PARA has been the subject of a number of research analyst reports. Redburn Atlantic lowered shares of Paramount Global from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $17.00 to $11.00 in a research note on Thursday, January 11th. JPMorgan Chase & Co. reduced their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Wolfe Research raised shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Paramount Global in a research note on Thursday, February 29th. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.79.

Paramount Global Trading Down 0.5 %

Shares of NASDAQ:PARA opened at $10.90 on Tuesday. Paramount Global has a 52-week low of $10.12 and a 52-week high of $24.00. The company has a market capitalization of $7.11 billion, a P/E ratio of -10.69, a price-to-earnings-growth ratio of 0.41 and a beta of 1.77. The company has a 50-day simple moving average of $11.68 and a 200 day simple moving average of $12.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (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 business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same period last year, the business posted $0.08 EPS. Paramount Global’s revenue was down 6.1% on a year-over-year basis. Sell-side analysts forecast that Paramount Global will post 1.17 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.83%. Paramount Global’s dividend payout ratio is currently -19.61%.

Paramount Global 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.