Institute for Wealth Management LLC. lessened its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 38.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,392 shares of the company's stock after selling 23,003 shares during the quarter. Institute for Wealth Management LLC.'s holdings in Paramount Global were worth $381,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Sei Investments Co. grew its stake in Paramount Global by 2.6% during the 2nd quarter. Sei Investments Co. now owns 158,629 shares of the company's stock worth $1,648,000 after buying an additional 4,001 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Paramount Global by 640.3% during the second quarter. Thrivent Financial for Lutherans now owns 145,638 shares of the company's stock worth $1,514,000 after acquiring an additional 125,965 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Paramount Global by 65.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 671,445 shares of the company's stock valued at $6,976,000 after acquiring an additional 266,160 shares during the period. Creative Planning increased its holdings in shares of Paramount Global by 75.7% in the 2nd quarter. Creative Planning now owns 172,937 shares of the company's stock valued at $1,797,000 after acquiring an additional 74,535 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its position in Paramount Global by 8.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company's stock valued at $181,000 after purchasing an additional 1,356 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.
Paramount Global Trading Up 1.5 %
PARA stock traded up $0.17 on Tuesday, hitting $10.90. 3,088,711 shares of the company were exchanged, compared to its average volume of 8,897,147. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of -1.33, a price-to-earnings-growth ratio of 1.58 and a beta of 1.69. The business's fifty day moving average is $10.75 and its two-hundred day moving average is $10.73. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.
Paramount Global (NASDAQ:PARA - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business's quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. As a group, research analysts forecast that Paramount Global will post 1.78 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on PARA shares. Macquarie reissued an "underperform" rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Morgan Stanley boosted their price target on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com upgraded Paramount Global from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Paramount Global presently has a consensus rating of "Hold" and an average price target of $12.58.
Check Out Our Latest Report on Paramount Global
Paramount Global Profile
(
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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