Paramount Global (NASDAQ:PARA) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lowered its position in Paramount Global (NASDAQ:PARA - Free Report) by 64.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,744 shares of the company's stock after selling 50,732 shares during the period. Captrust Financial Advisors' holdings in Paramount Global were worth $290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bayesian Capital Management LP acquired a new position in shares of Paramount Global in the fourth quarter valued at about $1,600,000. Algert Global LLC acquired a new stake in Paramount Global during the 4th quarter worth about $1,002,000. Ariel Investments LLC raised its stake in shares of Paramount Global by 3.2% during the 4th quarter. Ariel Investments LLC now owns 14,663,907 shares of the company's stock valued at $153,384,000 after buying an additional 460,539 shares during the last quarter. AlTi Global Inc. acquired a new position in shares of Paramount Global in the 4th quarter valued at about $492,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Paramount Global in the fourth quarter worth about $2,135,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PARA. Guggenheim reissued a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research note on Wednesday, April 2nd. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark decreased their target price on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Morgan Stanley decreased their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.50.

Paramount Global Trading Up 0.4%

NASDAQ PARA traded up $0.05 during trading hours on Tuesday, reaching $12.02. The company had a trading volume of 310,610 shares, compared to its average volume of 8,684,647. 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 market capitalization of $8.06 billion, a P/E ratio of -1.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The stock has a 50-day moving average of $11.47 and a 200 day moving average of $11.15. Paramount Global has a 1-year low of $9.54 and a 1-year high of $13.05.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $7.19 billion for the quarter, compared to analysts' expectations of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, research analysts anticipate that Paramount Global will post 1.77 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.