SG Americas Securities LLC Acquires 1,161,696 Shares of Paramount Global (NASDAQ:PARA)

SG Americas Securities LLC raised its holdings in Paramount Global (NASDAQ:PARA) by 435.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,428,254 shares of the company’s stock after buying an additional 1,161,696 shares during the period. SG Americas Securities LLC owned about 0.21% of Paramount Global worth $17,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the period. Mattson Financial Services LLC bought a new stake in Paramount Global in the fourth quarter valued at approximately $28,000. Ossiam raised its stake in Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after buying an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in Paramount Global in the fourth quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. raised its stake in Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after buying an additional 2,019 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 1.4%

Shares of NASDAQ:PARA opened at $12.17 on Wednesday. The company has a market capitalization of $8.20 billion, a P/E ratio of -1.48, a P/E/G ratio of 1.68 and a beta of 1.19. Paramount Global has a 1 year low of $9.54 and a 1 year high of $12.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business’s 50 day simple moving average is $11.53 and its 200 day simple moving average is $11.23.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 earnings per share. On average, research analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, June 16th. Paramount Global’s dividend payout ratio is currently -2.43%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PARA. Guggenheim restated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Wall Street Zen initiated coverage on Paramount Global in a research report on Saturday, May 17th. They issued a “hold” rating on the stock. UBS Group decreased their target price on Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Benchmark decreased their target price on Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.33.

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.