SG Americas Securities LLC Acquires 1,161,696 Shares of Paramount Global (NASDAQ:PARA)

SG Americas Securities LLC boosted its holdings in shares of Paramount Global (NASDAQ:PARA) by 435.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,428,254 shares of the company’s stock after purchasing an additional 1,161,696 shares during the period. SG Americas Securities LLC’s holdings in Paramount Global were worth $17,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PARA. Contrarius Group Holdings Ltd bought a new stake in Paramount Global during the fourth quarter worth $146,230,000. Norges Bank bought a new stake in Paramount Global during the fourth quarter worth $45,202,000. Slate Path Capital LP lifted its stake in Paramount Global by 42.3% during the fourth quarter. Slate Path Capital LP now owns 12,586,000 shares of the company’s stock worth $131,650,000 after purchasing an additional 3,741,000 shares during the last quarter. Two Sigma Investments LP bought a new stake in Paramount Global during the fourth quarter worth $21,229,000. Finally, New Age Alpha Advisors LLC bought a new stake in Paramount Global during the fourth quarter worth $20,292,000. 73.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday, April 2nd. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Citigroup reiterated a “neutral” rating and issued a $12.00 price target (down from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Morgan Stanley dropped their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. dropped their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, May 21st. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.33.

Paramount Global Stock Up 1.4%

Shares of NASDAQ:PARA opened at $12.17 on Wednesday. The firm has a market cap of $8.20 billion, a P/E ratio of -1.48, a P/E/G ratio of 1.68 and a beta of 1.19. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $12.54. The business has a fifty day simple moving average of $11.53 and a 200 day simple moving average of $11.23.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Paramount Global’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. Analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Monday, June 16th. Paramount Global’s dividend payout ratio is currently -2.43%.

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.