Stifel Financial Corp Sells 130,286 Shares of Paramount Global (NASDAQ:PARA)

Stifel Financial Corp trimmed its holdings in shares of Paramount Global (NASDAQ:PARA) by 32.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 265,470 shares of the company’s stock after selling 130,286 shares during the quarter. Stifel Financial Corp’s holdings in Paramount Global were worth $2,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PARA. Blue Trust Inc. boosted its stake in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank lifted its position in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in Paramount Global during the second quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paramount Global in the second quarter worth about $43,000. Finally, Kennebec Savings Bank bought a new position in shares of Paramount Global in the third quarter worth about $47,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Stock Performance

Paramount Global stock opened at $10.81 on Wednesday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $16.30. The company’s 50-day moving average is $10.82 and its 200 day moving average is $10.83. The firm has a market capitalization of $7.21 billion, a P/E ratio of -1.32, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the company earned $0.30 EPS. Paramount Global’s quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts forecast that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.85%. Paramount Global’s payout ratio is -2.43%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Guggenheim dropped their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Seven research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.43.

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.