Paramount Global (NASDAQ:PARA) Shares Sold by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. trimmed its stake in shares of Paramount Global (NASDAQ:PARA) by 30.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,975 shares of the company’s stock after selling 4,280 shares during the period. Brown Lisle Cummings Inc.’s holdings in Paramount Global were worth $104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SOL Capital Management CO boosted its stake in Paramount Global by 1.6% in the 4th quarter. SOL Capital Management CO now owns 180,604 shares of the company’s stock worth $1,889,000 after purchasing an additional 2,830 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Paramount Global in the fourth quarter worth $88,000. R Squared Ltd purchased a new position in shares of Paramount Global during the fourth quarter valued at $154,000. Perigon Wealth Management LLC raised its position in Paramount Global by 7.0% during the fourth quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock valued at $293,000 after buying an additional 1,874 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its stake in Paramount Global by 27.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 33,254 shares of the company’s stock worth $348,000 after acquiring an additional 7,167 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research reports. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley increased their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday. Macquarie restated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Six 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.58.

Paramount Global Trading Up 1.8 %

PARA opened at $10.92 on Wednesday. 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 50-day moving average of $10.75 and a 200-day moving average of $10.72. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (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 analysts’ expectations of $6.94 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. Equities analysts forecast that Paramount Global will post 1.78 earnings per share for the current fiscal year.

About Paramount Global

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.