KLP Kapitalforvaltning AS Takes $1.27 Million Position in Paramount Global (NASDAQ:PARA)

KLP Kapitalforvaltning AS bought a new position in shares of Paramount Global (NASDAQ:PARA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 120,400 shares of the company’s stock, valued at approximately $1,265,000.

Several other large investors have also recently bought and sold shares of the business. Intech Investment Management LLC purchased a new position in shares of Paramount Global in the 3rd quarter valued at about $117,000. Daiwa Securities Group Inc. boosted its holdings in Paramount Global by 26.5% in the third quarter. Daiwa Securities Group Inc. now owns 71,874 shares of the company’s stock valued at $763,000 after purchasing an additional 15,053 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Paramount Global by 88.4% during the third quarter. Fisher Asset Management LLC now owns 21,723 shares of the company’s stock worth $231,000 after purchasing an additional 10,192 shares in the last quarter. Bridgewater Associates LP raised its holdings in Paramount Global by 50.7% during the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after purchasing an additional 110,357 shares in the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Paramount Global during the 3rd quarter worth approximately $127,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PARA shares. Guggenheim reiterated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com initiated coverage on Paramount Global in a research note on Sunday. They set a “hold” rating on the stock. Finally, Morgan Stanley boosted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Paramount Global currently has an average rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Down 1.0 %

Shares of NASDAQ PARA opened at $11.56 on Friday. The firm’s 50-day moving average is $11.28 and its two-hundred day moving average is $10.89. The company has a market capitalization of $7.71 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. 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 posted its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Equities analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio is presently -2.15%.

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.