SOL Capital Management CO Boosts Position in Paramount Global (NASDAQ:PARA)

SOL Capital Management CO increased its position in shares of Paramount Global (NASDAQ:PARA) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,604 shares of the company’s stock after purchasing an additional 2,830 shares during the period. SOL Capital Management CO’s holdings in Paramount Global were worth $1,889,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Carson Advisory Inc. grew its stake in shares of Paramount Global by 1.9% in the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after buying an additional 1,004 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Paramount Global by 8.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after acquiring an additional 1,356 shares during the last quarter. Stonehearth Capital Management LLC grew its position in Paramount Global by 9.3% in the third quarter. Stonehearth Capital Management LLC now owns 16,182 shares of the company’s stock worth $172,000 after acquiring an additional 1,374 shares during the period. PNC Financial Services Group Inc. increased its stake in Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after acquiring an additional 1,481 shares during the last quarter. Finally, Huntington National Bank raised its position in Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of PARA opened at $10.98 on Friday. 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 has a fifty-two week low of $9.54 and a fifty-two week high of $15.70. The company has a market cap of $7.32 billion, a P/E ratio of -1.34, a PEG ratio of 1.62 and a beta of 1.70. The firm’s 50 day moving average price is $10.75 and its 200 day moving average price is $10.75.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, research analysts forecast that Paramount Global will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PARA shares. Macquarie reiterated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Six research 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.com, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

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.