Paramount Global (NASDAQ:PARA) Shares Sold by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC reduced its position in shares of Paramount Global (NASDAQ:PARA) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,240 shares of the company’s stock after selling 6,144 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Paramount Global were worth $699,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. VisionPoint Advisory Group LLC purchased a new stake in shares of Paramount Global in the third quarter valued at approximately $25,000. Archer Investment Corp purchased a new stake in shares of Paramount Global in the fourth quarter valued at approximately $30,000. Anchor Investment Management LLC purchased a new stake in shares of Paramount Global in the fourth quarter valued at approximately $30,000. WFA of San Diego LLC grew its position in shares of Paramount Global by 635.0% in the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Paramount Global in the fourth quarter valued at approximately $39,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Down 2.2 %

NASDAQ:PARA traded down $0.27 during trading hours on Friday, hitting $11.91. The company’s stock had a trading volume of 15,332,203 shares, compared to its average volume of 19,059,674. The stock has a fifty day moving average of $11.48 and a 200-day moving average of $12.87. The stock has a market capitalization of $7.77 billion, a P/E ratio of -11.68, a price-to-earnings-growth ratio of 0.45 and a beta of 1.77. Paramount Global has a 52-week low of $10.12 and a 52-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.

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, topping the consensus estimate of ($0.05) by $0.09. The company had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. On average, equities analysts forecast that Paramount Global will post 1.2 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is currently -19.61%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Benchmark lowered their price objective on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Finally, Moffett Nathanson upgraded Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a research report on Tuesday, January 9th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.79.

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.