Tandem Capital Management Corp ADV Trims Stake in Paramount Global (NASDAQ:PARA)

Tandem Capital Management Corp ADV reduced its position in shares of Paramount Global (NASDAQ:PARA) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,409 shares of the company’s stock after selling 1,020 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Paramount Global were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. DnB Asset Management AS boosted its position in shares of Paramount Global by 6.6% in the 3rd quarter. DnB Asset Management AS now owns 106,114 shares of the company’s stock worth $1,369,000 after purchasing an additional 6,526 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Paramount Global by 433.6% in the 3rd quarter. SG Americas Securities LLC now owns 146,642 shares of the company’s stock worth $1,892,000 after purchasing an additional 119,159 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Paramount Global in the 3rd quarter worth $633,000. Oak Thistle LLC acquired a new stake in shares of Paramount Global in the 3rd quarter worth $253,000. Finally, Czech National Bank boosted its position in shares of Paramount Global by 40.4% in the 3rd quarter. Czech National Bank now owns 84,282 shares of the company’s stock worth $1,087,000 after purchasing an additional 24,263 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PARA. Moffett Nathanson raised Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target for the company in a research report on Tuesday, January 9th. Morgan Stanley lowered their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price target on shares of Paramount Global in a research report on Tuesday, April 9th. Benchmark lowered their price target on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. lowered their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.79.

Paramount Global Price Performance

Shares of PARA traded down $0.50 during mid-day trading on Thursday, reaching $12.18. 18,170,127 shares of the company’s stock were exchanged, compared to its average volume of 19,103,443. The company has a market cap of $7.95 billion, a price-to-earnings ratio of -11.94, a PEG ratio of 0.45 and a beta of 1.77. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. Paramount Global has a 52-week low of $10.12 and a 52-week high of $24.00. The company has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $12.88.

Paramount Global (NASDAQ:PARA) last released its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.09. The firm had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. Paramount Global’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. On average, sell-side analysts predict that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.64%. Paramount Global’s payout ratio is currently -19.61%.

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.