RBF Capital LLC Sells 195,648 Shares of Paramount Global (NASDAQ:PARA)

RBF Capital LLC reduced its stake in Paramount Global (NASDAQ:PARA) by 43.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 250,000 shares of the company’s stock after selling 195,648 shares during the period. RBF Capital LLC’s holdings in Paramount Global were worth $2,655,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PARA. Great Valley Advisor Group Inc. lifted its stake in Paramount Global by 5.3% in the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after buying an additional 1,002 shares during the period. Carson Advisory Inc. increased its stake in shares of Paramount Global by 1.9% in the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after acquiring an additional 1,004 shares during the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Paramount Global by 13.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after acquiring an additional 1,011 shares during the period. GAMMA Investing LLC boosted its stake in Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after acquiring an additional 1,067 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Paramount Global by 8.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after purchasing an additional 1,356 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Performance

Paramount Global stock opened at $11.02 on Thursday. 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 1-year low of $9.54 and a 1-year high of $17.50. The company has a fifty day simple moving average of $10.72 and a 200 day simple moving average of $10.89.

Paramount Global (NASDAQ:PARA) last released its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. Paramount Global’s quarterly revenue was down 5.6% on a year-over-year basis. Sell-side analysts expect that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. Paramount Global’s dividend payout ratio is presently -2.43%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Paramount Global has an average rating of “Hold” and an average price target of $12.40.

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.