Archer Investment Corp Buys Shares of 2,000 Paramount Global (NASDAQ:PARA)

Archer Investment Corp bought a new stake in shares of Paramount Global (NASDAQ:PARA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,000 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Highlander Capital Management LLC lifted its position in shares of Paramount Global by 13.4% during the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after buying an additional 850 shares during the last quarter. Arizona State Retirement System boosted its stake in Paramount Global by 0.7% in the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after acquiring an additional 887 shares in the last quarter. Van ECK Associates Corp grew its holdings in Paramount Global by 2.1% in the third quarter. Van ECK Associates Corp now owns 49,536 shares of the company’s stock worth $639,000 after purchasing an additional 996 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Paramount Global by 4.6% in the first quarter. Thrivent Financial for Lutherans now owns 22,626 shares of the company’s stock worth $505,000 after purchasing an additional 997 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in Paramount Global by 6.8% in the third quarter. Forum Financial Management LP now owns 15,610 shares of the company’s stock worth $201,000 after purchasing an additional 1,000 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PARA shares. Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Wolfe Research raised shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Paramount Global in a report on Thursday, February 29th. Finally, Morgan Stanley cut their price target on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, February 27th. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.79.

Paramount Global Stock Performance

Shares of PARA stock opened at $10.81 on Thursday. The stock has a market cap of $7.05 billion, a PE ratio of -10.60, a price-to-earnings-growth ratio of 0.37 and a beta of 1.77. The business has a 50-day simple moving average of $11.57 and a 200-day simple moving average of $12.87. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. Paramount Global has a 52-week low of $10.12 and a 52-week high of $24.00.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data 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. The business had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, equities analysts expect that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued 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 1.85%. Paramount Global’s dividend payout ratio (DPR) is presently -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.