Hedges Asset Management LLC Has $577,000 Holdings in Paramount Global (NASDAQ:PARA)

Hedges Asset Management LLC grew its holdings in Paramount Global (NASDAQ:PARA) by 79.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,200 shares of the company’s stock after purchasing an additional 24,500 shares during the quarter. Hedges Asset Management LLC’s holdings in Paramount Global were worth $577,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PARA. Carson Advisory Inc. grew its holdings in shares of Paramount Global by 1.9% during the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after buying an additional 1,004 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Paramount Global by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after acquiring an additional 1,356 shares in the last quarter. Stonehearth Capital Management LLC raised its holdings in shares of Paramount Global by 9.3% in the third quarter. Stonehearth Capital Management LLC now owns 16,182 shares of the company’s stock valued at $172,000 after purchasing an additional 1,374 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Paramount Global by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in Paramount Global by 129.0% during the third 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 last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PARA has been the subject of a number of recent research reports. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie restated an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus price target of $12.50.

Paramount Global Trading Up 3.4 %

NASDAQ PARA opened at $10.87 on Friday. The firm has a 50-day moving average price of $10.72 and a two-hundred day moving average price of $10.77. Paramount Global has a 12-month low of $9.54 and a 12-month high of $15.70. 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 issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. On average, equities analysts predict 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.