Janney Montgomery Scott LLC Has $960,000 Stake in Paramount Global (NASDAQ:PARA)

Janney Montgomery Scott LLC cut its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,769 shares of the company's stock after selling 27,316 shares during the period. Janney Montgomery Scott LLC's holdings in Paramount Global were worth $960,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC increased its holdings in shares of Paramount Global by 668.5% during the fourth quarter. SG Americas Securities LLC now owns 266,558 shares of the company's stock worth $2,788,000 after purchasing an additional 231,872 shares during the period. Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Paramount Global by 3.8% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company's stock worth $531,000 after purchasing an additional 1,848 shares during the period. Ballentine Partners LLC increased its holdings in shares of Paramount Global by 14.8% during the fourth quarter. Ballentine Partners LLC now owns 27,866 shares of the company's stock worth $291,000 after purchasing an additional 3,590 shares during the period. Community Bank of Raymore increased its holdings in shares of Paramount Global by 23.3% during the fourth quarter. Community Bank of Raymore now owns 15,880 shares of the company's stock worth $166,000 after purchasing an additional 3,000 shares during the period. Finally, HB Wealth Management LLC bought a new position in shares of Paramount Global during the fourth quarter worth approximately $127,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. StockNews.com raised shares of Paramount Global from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Finally, Macquarie reissued an "underperform" rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $12.58.

Paramount Global Price Performance

Shares of NASDAQ PARA traded down $0.21 during midday trading on Friday, reaching $10.63. 9,712,923 shares of the company were exchanged, compared to its average volume of 8,717,945. The stock's 50-day moving average price is $10.75 and its 200-day moving average price is $10.71. The stock has a market cap of $7.09 billion, a P/E ratio of -1.29, a PEG ratio of 1.59 and a beta of 1.69. Paramount Global has a one year low of $9.54 and a one year high of $14.54. 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 issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.25. The company had revenue of $6.73 billion for 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%. Paramount Global's revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, sell-side analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Company 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.