Claret Asset Management Corp, a renowned institutional investor, has significantly increased its position in shares of Paramount Global – a Nasdaq-listed company. According to their recent 13F filing with the Securities and Exchange Commission (SEC), Claret Asset Management Corp now owns 161,844 shares of Paramount Global’s stock. This represents an impressive growth of 102.1%, as the firm purchased an additional 81,780 shares during the first quarter.
The total value of Claret Asset Management Corp’s holdings in Paramount Global amounts to a staggering $3,611,000 as of the most recent SEC filing. Such a substantial investment indicates both confidence and faith from Claret Asset Management Corp in Paramount Global’s future prospects and potential for growth.
In addition to their increased position, Paramount Global recently declared a quarterly dividend that will be paid out on Monday, July 3rd. Shareholders who were recorded on Thursday, June 15th will receive a dividend of $0.05 per share. This equates to an annualized dividend of $0.20 and offers investors a dividend yield of approximately 1.27%. The ex-dividend date is set for Wednesday, June 14th.
However, it is worth noting that Paramount Global currently has a negative dividend payout ratio standing at -25.64%. Despite this seemingly alarming figure, investors remain optimistic about the company’s future prospects due to the recent surge in shareholder confidence demonstrated by institutions like Claret Asset Management Corp.
Paramount Global has been under scrutiny from various research reports which have contributed to shaping its current reputation among analysts and market experts. Evercore ISI reduced their price objective on Paramount Global from $25.00 to $18.00 in their research note released on Friday, May 5th. Conversely, Loop Capital upgraded Paramout Global from a “sell” rating to a “hold” rating and set a target price of $14.00 for the company in their research report published on Friday, May 26th. Similarly, Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in their research report issued on Tuesday, May 30th.
Bank of America also played a significant role in reshaping Paramount Global’s reputation by upgrading the company from a “neutral” rating to a “buy” rating and raising their target price range for the stock considerably, from $24.00 to $32.00. This announcement was made in Bank of America’s research report on Tuesday, March 28th.
In conclusion, despite receiving mixed ratings across different research reports, it is clear that institutions like Claret Asset Management Corp have steadfast belief in Paramount Global’s future potential. Currently holding a staggering position in the company’s shares and benefiting from its recent dividend announcement, Claret Asset Management Corp’s actions have had a profound impact on shaping Paramount Global’s reputation and impacting its fortunes within the market.
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Major Investors Show Confidence in Paramount Global as Earnings Fall Short
Paramount Global, a multinational conglomerate based in the United States, has recently attracted the attention of several large investors who have modified their holdings of the stock. New Hampshire Trust, for instance, made a bold move by boosting its stake in shares of Paramount Global by an impressive 56.8% during the 1st quarter. This increase in ownership now sees New Hampshire Trust as the owner of 7,316 shares of the company’s stock, which is estimated to be worth a staggering $163,000.
Independence Wealth Network Inc. also decided to get in on the action and boosted its stake in Paramount Global by 6.0% during the same period. The company now possesses 10,845 shares of Paramount Global’s stock with an approximate value of $242,000 after acquiring an extra 612 shares over the last quarter.
It seems that Xponance Inc. saw potential in Paramount Global as well and increased its stake by around 1.3%, bringing its total ownership to a phenomenal 76,386 shares worth $1,704,000.
Meanwhile, Clarius Group LLC seized an enticing opportunity by buying a new stake in Paramount Global valued at $202,000 during the first quarter. Trilogy Capital Inc., another prominent investor, went even further by acquiring a significant position worth an astounding $2,550,000.
These moves come as no surprise considering that institutional investors own approximately 77.42% of Paramount Global’s stock currently available on the market.
In addition to these seismic shifts in ownership among major investors with deep pockets, Director Shari Redstone demonstrated her confidence in Paramount Global when she purchased an impressive 165,000 shares on May 16th at an average cost of $15.06 per share. Following this transaction, Redstone’s ownership in the company reached a remarkable total of 577-064 shares valued at around $8,6905pp583.84.
All of this investment activity surrounding Paramount Global has caused quite a buzz within the financial community. Industry experts are keenly observing the decisions made by these major investors, speculating on what they may indicate about the future prospects of Paramount Global.
Additionally, Paramount Global recently declared a quarterly dividend, which will be paid to stockholders on July 3rd. Investors who held shares as of June 15th will receive a $0.05 dividend per share. This represents an annualized dividend of $0.20 and a dividend yield of 1.27%. The ex-dividend date is set for June 14th.
The current state of Paramount Global’s stock can be characterized by its opening price of $15.74 on Thursday at NASDAQ PARA. Over the past year, the stock has experienced fluctuations between its low point at $13.80 and its high point at $27.49, indicating some volatility in market sentiment towards the company.
Analyzing its moving average over a period of time gives us a closer look at Paramount Global’s trends in terms of stock performance. The 50-day moving average stands at $17.11 while the two-hundred day moving average settles slightly higher at $19.53.
Taking into account these recent developments and trends, it is worth noting that Paramount Global’s earnings results for the quarter ended May 4th were somewhat disappointing, with earnings per share (EPS) coming in at $0.09 — missing consensus estimates by ($0.03). The company generated revenue totaling $7.27 billion during this period but fell slightly short of expectations which were set at around $7.42 billion.
With a negative net margin of 1.49% and a positive return on equity (ROE) of 3.64%, this quarter revealed mixed signals regarding Paramount Global’s financial performance compared to last year when it achieved an impressive EPS figure of $0.60.
Equities research analysts are now speculating on whether Paramount Global can bounce back from this setback to ultimately post 0.63 EPS for the current year. Investors and industry experts alike eagerly await further developments as they continuously assess the future prospects of Paramount Global in light of these recent events and figures.
Overall, with its impressive roster of institutional investors, notable movements in share ownership, and a dedicated director backing its growth, Paramount Global continues to catch the attention of those in the financial world who are eager to witness its evolution moving forward.
