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

Graypoint LLC lifted its stake in shares of Paramount Global (NASDAQ:PARA) by 119.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 institutional investors and hedge funds have also made changes to their positions in PARA. Blue Trust Inc. raised its stake in Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank raised its stake in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paramount Global during the second quarter worth about $43,000. Kennebec Savings Bank purchased a new stake in Paramount Global in the third quarter valued at approximately $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after buying an additional 4,100 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Paramount Global Price Performance

Paramount Global stock opened at $10.48 on Friday. The stock has a market capitalization of $6.99 billion, a P/E ratio of -1.27, a P/E/G ratio of 1.35 and a beta of 1.70. The company’s fifty day moving average price is $10.86 and its 200 day moving average price is $10.79. 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 1 year low of $9.54 and a 1 year high of $15.70.

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, beating the consensus estimate 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 business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter last year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Paramount Global will post 1.86 earnings per share for the current fiscal year.

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.