Exchange Traded Concepts LLC Invests $243,000 in Paramount Global (NASDAQ:PARA)

Exchange Traded Concepts LLC purchased a new position in shares of Paramount Global (NASDAQ:PARA) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 22,926 shares of the company’s stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Thompson Investment Management Inc. raised its stake in shares of Paramount Global by 42.9% in the 1st quarter. Thompson Investment Management Inc. now owns 655,680 shares of the company’s stock valued at $7,717,000 after acquiring an additional 196,699 shares in the last quarter. AHL Investment Management Inc. raised its stake in shares of Paramount Global by 4.1% in the 1st quarter. AHL Investment Management Inc. now owns 53,832 shares of the company’s stock valued at $634,000 after acquiring an additional 2,135 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its stake in shares of Paramount Global by 2.1% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 355,859 shares of the company’s stock valued at $4,188,000 after acquiring an additional 7,330 shares in the last quarter. Register Financial Advisors LLC raised its stake in shares of Paramount Global by 54.5% in the 1st quarter. Register Financial Advisors LLC now owns 27,592 shares of the company’s stock valued at $325,000 after acquiring an additional 9,730 shares in the last quarter. Finally, Cannon Global Investment Management LLC bought a new position in shares of Paramount Global in the 1st quarter valued at approximately $344,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of PARA stock opened at $10.45 on Monday. The stock’s fifty day simple moving average is $10.54 and its 200 day simple moving average is $11.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of -1.34, a P/E/G ratio of 0.58 and a beta of 1.75. Paramount Global has a one year low of $9.54 and a one year high of $17.50.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.14 by $0.40. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. On average, analysts expect that Paramount Global will post 1.56 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.91%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is -2.57%.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Wolfe Research lowered Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price on the stock. in a report on Tuesday, July 9th. StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Nine research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.33.

About Paramount Global

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.