Matrix Asset Advisors Inc. NY Has $202,000 Stake in Paramount Global (NASDAQ:PARA)

Matrix Asset Advisors Inc. NY reduced its stake in Paramount Global (NASDAQ:PARA - Free Report) by 59.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,310 shares of the company's stock after selling 27,805 shares during the period. Matrix Asset Advisors Inc. NY's holdings in Paramount Global were worth $202,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PARA. State Street Corp boosted its stake in Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company's stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the period. Geode Capital Management LLC increased its stake in Paramount Global by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock worth $157,168,000 after purchasing an additional 1,606,779 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock worth $78,533,000 after buying an additional 1,030,592 shares during the period. AQR Capital Management LLC raised its holdings in shares of Paramount Global by 602.8% during the second quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company's stock valued at $18,530,000 after acquiring an additional 1,529,719 shares during the period. Finally, Swiss National Bank raised its position in Paramount Global by 12.6% during the third quarter. Swiss National Bank now owns 1,765,188 shares of the company's stock valued at $18,746,000 after buying an additional 197,300 shares during the period. 73.00% of the stock is owned by institutional investors.

Paramount Global Price Performance

Shares of NASDAQ:PARA traded down $0.10 during midday trading on Tuesday, reaching $11.06. The company's stock had a trading volume of 7,046,971 shares, compared to its average volume of 9,423,657. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $15.70. The business's fifty day simple moving average is $10.73 and its 200-day simple moving average is $10.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $7.38 billion, a P/E ratio of -1.35, a P/E/G ratio of 1.53 and a beta of 1.70.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the company earned $0.30 earnings per share. The company's revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts expect that Paramount Global will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reissued 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 note on Monday, November 11th. Finally, Macquarie reaffirmed an "underperform" rating and issued a $10.00 target price 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.