Investment Management Corp of Ontario Has $209,000 Stock Position in Paramount Global (NASDAQ:PARA)

Investment Management Corp of Ontario lifted its holdings in Paramount Global (NASDAQ:PARA) by 66.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,715 shares of the company’s stock after purchasing an additional 7,900 shares during the period. Investment Management Corp of Ontario’s holdings in Paramount Global were worth $209,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares during the last quarter. Huntington National Bank raised its stake in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in Paramount Global in the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC bought a new stake in Paramount Global during the second quarter worth approximately $43,000. Finally, Kennebec Savings Bank acquired a new position in Paramount Global during the third quarter valued at approximately $47,000. 73.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, August 15th. Macquarie restated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Finally, Guggenheim dropped their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Seven analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.43.

Paramount Global Trading Up 1.7 %

Shares of Paramount Global stock opened at $10.99 on Monday. The company’s fifty day moving average price is $10.73 and its two-hundred day moving average price is $10.87. The firm has a market capitalization of $7.33 billion, a PE ratio of -1.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.71. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. 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 Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts expect that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

Paramount Global Company 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.