International Assets Investment Management LLC reduced its stake in Paramount Global (NASDAQ:PARA - Free Report) by 95.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,626 shares of the company's stock after selling 418,994 shares during the period. International Assets Investment Management LLC's holdings in Paramount Global were worth $229,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in PARA. Blue Trust Inc. boosted its position 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 buying an additional 1,573 shares during the period. Huntington National Bank grew its stake in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company's stock worth $29,000 after purchasing an additional 1,561 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paramount Global during the second quarter valued at $43,000. Kennebec Savings Bank bought a new stake in shares of Paramount Global during the third quarter valued at about $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company's stock worth $52,000 after purchasing an additional 4,100 shares during the period. 73.00% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on PARA. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com upgraded Paramount Global from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Macquarie reaffirmed an "underperform" rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Finally, Guggenheim lowered their target price on Paramount Global from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.50.
Read Our Latest Stock Report on Paramount Global
Paramount Global Stock Down 0.5 %
PARA stock traded down $0.05 during trading hours on Tuesday, hitting $10.67. The company's stock had a trading volume of 6,133,182 shares, compared to its average volume of 7,772,097. The stock has a 50 day moving average price of $10.86 and a two-hundred day moving average price of $10.80. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. The company has a market capitalization of $7.12 billion, a PE ratio of -1.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.70. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.
Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The business's quarterly revenue was down 5.6% on a year-over-year basis. On average, equities research analysts expect that Paramount Global will post 1.86 earnings per share for the current year.
About Paramount Global
(
Free Report)
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.
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