Paramount Global (NASDAQ:PARA) Shares Purchased by Graypoint LLC

Graypoint LLC boosted its stake in shares of Paramount Global (NASDAQ:PARA) by 119.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,989 shares of the company’s stock after buying an additional 26,168 shares during the period. Graypoint LLC’s holdings in Paramount Global were worth $502,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Range Financial Group LLC acquired a new stake in Paramount Global during the fourth quarter worth about $165,000. Everence Capital Management Inc. acquired a new stake in shares of Paramount Global during the 4th quarter worth approximately $255,000. GAMMA Investing LLC raised its position in shares of Paramount Global by 74.0% during the 4th quarter. GAMMA Investing LLC now owns 10,842 shares of the company’s stock valued at $113,000 after buying an additional 4,611 shares during the period. Principal Financial Group Inc. lifted its holdings in Paramount Global by 22.3% in the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock valued at $7,258,000 after acquiring an additional 124,740 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Paramount Global by 12.8% in the third quarter. Retirement Systems of Alabama now owns 179,384 shares of the company’s stock worth $1,905,000 after acquiring an additional 20,335 shares during the period. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Guggenheim reduced their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.50.

Paramount Global Trading Down 1.5 %

NASDAQ:PARA opened at $10.48 on Friday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $15.70. The firm has a market cap of $6.99 billion, a PE ratio of -1.27, a price-to-earnings-growth 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 stock has a fifty day moving average price of $10.86 and a 200 day moving average price of $10.79.

Paramount Global (NASDAQ:PARA) 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. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. Sell-side analysts anticipate that Paramount Global will post 1.86 earnings per share for the current fiscal year.

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.