Foundation Resource Management Inc. Lowers Stake in Paramount Global (NASDAQ:PARA)

Foundation Resource Management Inc. decreased its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,037,987 shares of the company's stock after selling 50,444 shares during the period. Paramount Global accounts for 1.8% of Foundation Resource Management Inc.'s portfolio, making the stock its 21st largest position. Foundation Resource Management Inc. owned approximately 0.16% of Paramount Global worth $10,857,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PARA. FNY Investment Advisers LLC increased its holdings in shares of Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock valued at $75,000 after acquiring an additional 3,654 shares in the last quarter. Czech National Bank increased its stake in Paramount Global by 6.5% during the 4th quarter. Czech National Bank now owns 129,023 shares of the company's stock valued at $1,350,000 after purchasing an additional 7,874 shares in the last quarter. Graypoint LLC raised its holdings in Paramount Global by 119.9% in the fourth quarter. Graypoint LLC now owns 47,989 shares of the company's stock worth $502,000 after buying an additional 26,168 shares during the last quarter. Range Financial Group LLC bought a new position in shares of Paramount Global in the fourth quarter worth approximately $165,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Paramount Global during the fourth quarter valued at approximately $255,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Performance

NASDAQ PARA traded down $0.23 during trading hours on Wednesday, hitting $10.44. 9,447,825 shares of the company's stock traded hands, compared to its average volume of 7,958,149. Paramount Global has a 52 week low of $9.54 and a 52 week high of $15.70. The firm has a market capitalization of $6.96 billion, a P/E ratio of -1.27, a P/E/G ratio of 1.35 and a beta of 1.70. 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 business's fifty day moving average price is $10.85 and its two-hundred day moving average price is $10.80.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data 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. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts predict that Paramount Global will post 1.86 EPS for the current year.

Analyst Upgrades and Downgrades

PARA has been the subject of a number of recent analyst reports. 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 restated a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised Paramount Global from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Macquarie reiterated an "underperform" rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $12.50.

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.