Twelve Points Wealth Management LLC Lowers Holdings in Paramount Global (NASDAQ:PARA)

Twelve Points Wealth Management LLC reduced its stake in Paramount Global (NASDAQ:PARA) by 32.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,029 shares of the company’s stock after selling 9,958 shares during the period. Twelve Points Wealth Management LLC’s holdings in Paramount Global were worth $220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. lifted its position in Paramount Global by 2.6% in the 2nd quarter. Sei Investments Co. now owns 158,629 shares of the company’s stock valued at $1,648,000 after acquiring an additional 4,001 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings 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 valued at $1,514,000 after purchasing an additional 125,965 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Paramount Global by 3.2% during the second quarter. Public Sector Pension Investment Board now owns 88,349 shares of the company’s stock valued at $918,000 after buying an additional 2,700 shares during the last quarter. APG Asset Management N.V. increased its holdings in Paramount Global by 189.8% in the 2nd quarter. APG Asset Management N.V. now owns 56,800 shares of the company’s stock worth $551,000 after buying an additional 37,200 shares in the last quarter. Finally, MBB Public Markets I LLC raised its position in Paramount Global by 145.9% in the 2nd quarter. MBB Public Markets I LLC now owns 35,481 shares of the company’s stock worth $369,000 after buying an additional 21,051 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.09 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. The company’s 50 day moving average is $10.76 and its two-hundred day moving average is $10.75.

Paramount Global (NASDAQ:PARA) last released its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter in the previous year, the company earned $0.30 EPS. Paramount Global’s revenue for the quarter 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 Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reiterated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Six equities 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 company. Based on data from MarketBeat.com, the company presently has an average 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.