Athos Capital Ltd Purchases Shares of 110,200 Paramount Global (NASDAQ:PARA)

Athos Capital Ltd acquired a new position in Paramount Global (NASDAQ:PARA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,200 shares of the company’s stock, valued at approximately $1,170,000. Paramount Global makes up 0.4% of Athos Capital Ltd’s portfolio, making the stock its 18th largest holding.

Several other large investors also recently made changes to their positions in PARA. Charles Schwab Investment Management Inc. lifted its position in Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after acquiring an additional 1,030,592 shares in the last quarter. Financial Counselors Inc. lifted its position in shares of Paramount Global by 6.9% during the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock worth $8,980,000 after purchasing an additional 56,021 shares in the last quarter. Bridgewater Associates LP grew its holdings in Paramount Global by 50.7% during the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after purchasing an additional 110,357 shares in the last quarter. Hoertkorn Richard Charles increased its stake in Paramount Global by 38.1% during the 3rd quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock worth $2,354,000 after buying an additional 61,191 shares during the period. Finally, HBK Investments L P acquired a new stake in shares of Paramount Global during the third quarter valued at about $5,098,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Up 0.7 %

Shares of PARA stock opened at $10.85 on Monday. The firm has a market capitalization of $7.24 billion, a PE ratio of -1.32, a price-to-earnings-growth ratio of 1.31 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The stock has a fifty day moving average of $10.70 and a two-hundred day moving average of $10.92.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, research analysts expect that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is currently -2.43%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Guggenheim decreased their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Macquarie reiterated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.40.

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.