Paramount Global (NASDAQ:PARA) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its position in Paramount Global (NASDAQ:PARA - Free Report) by 31.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,412 shares of the company's stock after selling 35,634 shares during the quarter. Tidal Investments LLC's holdings in Paramount Global were worth $799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PARA. Toronto Dominion Bank raised its position in shares of Paramount Global by 125.6% in the fourth quarter. Toronto Dominion Bank now owns 449,917 shares of the company's stock valued at $4,706,000 after buying an additional 250,487 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in Paramount Global by 12.5% in the 4th quarter. Rafferty Asset Management LLC now owns 51,642 shares of the company's stock valued at $540,000 after acquiring an additional 5,738 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Paramount Global by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 173,173 shares of the company's stock worth $1,811,000 after purchasing an additional 11,791 shares during the period. Prodigy Asset Management LLC purchased a new position in shares of Paramount Global during the 4th quarter worth $292,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Paramount Global by 38.2% during the fourth quarter. Quantinno Capital Management LP now owns 47,424 shares of the company's stock worth $496,000 after purchasing an additional 13,108 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on PARA shares. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered 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 report on Wednesday, April 2nd. UBS Group cut their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley decreased their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Finally, Benchmark dropped their price objective on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global presently has a consensus rating of "Hold" and an average price target of $11.54.

Paramount Global Stock Down 1.0%

NASDAQ PARA traded down $0.13 during mid-day trading on Friday, reaching $12.06. 5,955,114 shares of the company's stock traded hands, compared to its average volume of 10,156,053. The company has a fifty day simple moving average of $11.49 and a 200-day simple moving average of $11.17. Paramount Global has a 1-year low of $9.54 and a 1-year high of $13.05. The company has a market cap of $8.09 billion, a price-to-earnings ratio of -1.47, a P/E/G ratio of 1.68 and a beta of 1.25. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm 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 firm's quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, equities research analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global 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.