Lido Advisors LLC Takes $106,000 Position in Paramount Global (NASDAQ:PARA)

Lido Advisors LLC purchased a new position in shares of Paramount Global (NASDAQ:PARA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,125 shares of the company’s stock, valued at approximately $106,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PARA. Allworth Financial LP increased its position in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares during the last quarter. Ossiam increased its holdings in Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after purchasing an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Paramount Global in the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. lifted its stake in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Paramount Global during the fourth quarter worth $35,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Up 2.2 %

Shares of NASDAQ PARA opened at $11.50 on Wednesday. The business has a 50-day moving average of $11.41 and a two-hundred day moving average of $11.04. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of -1.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Paramount Global has a 1 year low of $9.54 and a 1 year high of $13.40. 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 announced its quarterly 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). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. On average, analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.74%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PARA shares. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reissued a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. StockNews.com started coverage on shares of Paramount Global in a research note on Thursday, May 1st. They set a “hold” rating on the stock. UBS Group decreased their price target on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research report on Tuesday, April 15th. Finally, Benchmark cut their price objective on Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.58.

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.