12,126 Shares in Paramount Global (NASDAQ:PARA) Purchased by HB Wealth Management LLC

HB Wealth Management LLC acquired a new stake in Paramount Global (NASDAQ:PARA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,126 shares of the company’s stock, valued at approximately $127,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. American Century Companies Inc. lifted its stake in Paramount Global by 1.3% in the 2nd quarter. American Century Companies Inc. now owns 149,144 shares of the company’s stock valued at $1,550,000 after buying an additional 1,984 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Paramount Global by 2.6% during the second 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 during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Paramount Global by 640.3% in the second quarter. Thrivent Financial for Lutherans now owns 145,638 shares of the company’s stock valued at $1,514,000 after acquiring an additional 125,965 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Paramount Global by 20.9% in the second quarter. Profund Advisors LLC now owns 16,083 shares of the company’s stock worth $167,000 after acquiring an additional 2,783 shares during the last quarter. Finally, Public Sector Pension Investment Board increased 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 worth $918,000 after purchasing an additional 2,700 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PARA has been the topic of a number of recent research reports. Macquarie restated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report 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 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.

Paramount Global Trading Up 1.8 %

NASDAQ PARA opened at $11.07 on Friday. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. The stock has a market capitalization of $7.38 billion, a P/E ratio of -1.35, a PEG ratio of 1.53 and a beta of 1.70. The firm’s 50-day moving average is $10.72 and its two-hundred day moving average is $10.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the business posted $0.30 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Paramount Global will post 1.78 earnings per share for the current 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.