Claybrook Capital LLC Sells 2,200 Shares of Paramount Global (NASDAQ:PARA)

by · The Cerbat Gem

Claybrook Capital LLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA – Free Report) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,100 shares of the company’s stock after selling 2,200 shares during the period. Claybrook Capital LLC’s holdings in Paramount Global were worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Mexico Educational Retirement Board lifted its holdings in shares of Paramount Global by 4.7% during the 2nd quarter. New Mexico Educational Retirement Board now owns 24,499 shares of the company’s stock worth $390,000 after acquiring an additional 1,100 shares during the last quarter. Point72 Middle East FZE purchased a new position in shares of Paramount Global in the 2nd quarter worth about $7,438,000. Invenomic Capital Management LP bought a new position in shares of Paramount Global during the 2nd quarter valued at about $2,760,000. The Manufacturers Life Insurance Company raised its holdings in shares of Paramount Global by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 395,819 shares of the company’s stock valued at $6,297,000 after buying an additional 4,065 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Paramount Global by 11.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 176,294 shares of the company’s stock worth $2,805,000 after buying an additional 17,806 shares during the last quarter. 72.39% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Down 3.8 %

PARA stock traded down $0.54 during trading on Wednesday, hitting $13.86. 2,868,754 shares of the stock traded hands, compared to its average volume of 8,075,191. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of -8.09, a price-to-earnings-growth ratio of 1.85 and a beta of 1.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.26 and a quick ratio of 1.09. Paramount Global has a 1 year low of $10.51 and a 1 year high of $25.93. The firm’s 50 day moving average is $13.98 and its two-hundred day moving average is $14.24.

Paramount Global (NASDAQ:PARA – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.22. Paramount Global had a negative net margin of 3.65% and a positive return on equity of 1.89%. The company had revenue of $7.13 billion during the quarter, compared to analyst estimates of $7.12 billion. On average, sell-side analysts anticipate that Paramount Global will post 0.53 EPS for the current year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.44%. Paramount Global’s payout ratio is -11.24%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PARA shares. Sanford C. Bernstein assumed coverage on shares of Paramount Global in a research note on Thursday, October 5th. They issued an “underperform” rating and a $11.00 price target for the company. The Goldman Sachs Group dropped their target price on Paramount Global from $15.00 to $11.00 and set a “sell” rating for the company in a report on Friday, October 20th. Raymond James initiated coverage on Paramount Global in a research note on Monday, September 18th. They issued a “market perform” rating on the stock. Barclays dropped their price objective on Paramount Global from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Monday, October 9th. Finally, Needham & Company LLC decreased their target price on shares of Paramount Global from $28.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, October 9th. Ten equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Global currently has an average rating of “Hold” and a consensus price target of $15.74.

Check Out Our Latest Stock Analysis on Paramount Global

About Paramount Global

(Free Report)

Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.

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