Paramount Global (NASDAQ:PARA) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in Paramount Global (NASDAQ:PARA) by 74.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,842 shares of the company’s stock after purchasing an additional 4,611 shares during the quarter. GAMMA Investing LLC’s holdings in Paramount Global were worth $113,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings 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 purchasing an additional 1,573 shares during the period. Huntington National Bank raised its holdings in Paramount Global by 129.0% in the 3rd 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 period. Ashton Thomas Private Wealth LLC acquired a new position in Paramount Global in the 2nd quarter worth about $43,000. Kennebec Savings Bank acquired a new position in Paramount Global in the 3rd quarter worth about $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after purchasing an additional 4,100 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

PARA has been the subject of several research reports. Macquarie reiterated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Guggenheim cut 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. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.38.

Paramount Global Trading Down 1.5 %

PARA opened at $10.48 on Friday. Paramount Global has a one year low of $9.54 and a one year high of $15.70. The stock has a market capitalization of $6.99 billion, a PE ratio of -1.27, a P/E/G ratio of 1.35 and a beta of 1.70. The business’s 50 day moving average price is $10.87 and its 200 day moving average price is $10.78. 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 (NASDAQ:PARA) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts expect that Paramount Global will post 1.86 EPS for the current 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.