Paramount Global (NASDAQ:PARA) Shares Acquired by Lingotto Investment Management LLP

Lingotto Investment Management LLP raised its holdings in shares of Paramount Global (NASDAQ:PARA) by 628.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,937,007 shares of the company’s stock after acquiring an additional 25,829,185 shares during the period. Paramount Global makes up about 10.5% of Lingotto Investment Management LLP’s portfolio, making the stock its 3rd biggest position. Lingotto Investment Management LLP’s holdings in Paramount Global were worth $311,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Atlas Capital Advisors LLC acquired a new position in shares of Paramount Global in the 2nd quarter valued at $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paramount Global in the 2nd quarter worth $43,000. Newbridge Financial Services Group Inc. purchased a new stake in Paramount Global in the 4th quarter worth $44,000. SageView Advisory Group LLC purchased a new stake in Paramount Global in the 1st quarter worth $56,000. Finally, GAMMA Investing LLC increased its holdings in Paramount Global by 22.8% in 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 in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on PARA shares. StockNews.com lowered shares of Paramount Global from a “hold” rating to a “sell” rating in a report on Saturday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 target price on shares of Paramount Global in a report on Tuesday, June 4th. Evercore ISI dropped their target price on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a report on Tuesday, July 9th. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Finally, The Goldman Sachs Group started coverage on shares of Paramount Global in a report on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price for the company. Eleven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.47.

Paramount Global Trading Up 0.2 %

NASDAQ PARA opened at $10.44 on Wednesday. The firm’s 50-day moving average is $10.92 and its two-hundred day moving average is $11.33. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market capitalization of $6.96 billion, a P/E ratio of -69.60, a PEG ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.21 billion. On average, sell-side analysts anticipate that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.92%. Paramount Global’s dividend payout ratio is presently -133.33%.

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.