Neo Ivy Capital Management Sells 199,324 Shares of Paramount Global (NASDAQ:PARA)

Neo Ivy Capital Management reduced its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 85.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,416 shares of the company's stock after selling 199,324 shares during the period. Neo Ivy Capital Management's holdings in Paramount Global were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after acquiring an additional 1,395 shares during the last quarter. Ossiam grew its holdings in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after purchasing an additional 1,022 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global in the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. grew its holdings in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock valued at $32,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new position in Paramount Global in the fourth quarter worth approximately $35,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on PARA. Deutsche Bank Aktiengesellschaft downgraded shares of 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. JPMorgan Chase & Co. decreased their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Benchmark decreased their price target on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Guggenheim restated a "buy" rating and set a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Paramount Global has a consensus rating of "Hold" and a consensus price target of $11.50.

Paramount Global Stock Performance

Shares of NASDAQ:PARA traded up $0.06 during trading hours on Tuesday, hitting $12.03. The stock had a trading volume of 4,326,441 shares, compared to its average volume of 10,182,657. The stock's fifty day simple moving average is $11.47 and its 200 day simple moving average is $11.15. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of -1.46, a PEG ratio of 1.68 and a beta of 1.25. 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 announced its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.19 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Paramount Global's revenue for the quarter was down 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Paramount Global will post 1.77 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.