Landscape Capital Management L.L.C. Grows Holdings in Paramount Global (NASDAQ:PARA)

Landscape Capital Management L.L.C. raised its position in Paramount Global (NASDAQ:PARA) by 200.1% in the third quarter, Holdings Channel reports. The institutional investor owned 194,166 shares of the company’s stock after purchasing an additional 129,470 shares during the period. Landscape Capital Management L.L.C.’s holdings in Paramount Global were worth $2,062,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of PARA. Blue Trust Inc. increased its stake in shares of Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after purchasing an additional 1,573 shares in the last quarter. Huntington National Bank lifted its holdings 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 worth $29,000 after acquiring an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Paramount Global in the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paramount Global during the 2nd quarter worth approximately $43,000. Finally, Kennebec Savings Bank purchased a new stake in Paramount Global during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 5.0 %

NASDAQ PARA opened at $11.11 on Friday. The company’s fifty day simple moving average is $10.65 and its 200-day simple moving average is $11.02. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.41 billion, a P/E ratio of -1.35, a PEG ratio of 1.25 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The business 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%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Equities research analysts predict that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.80%. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PARA. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Guggenheim reduced their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Paramount Global currently has an average 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.