Paramount Global (NASDAQ:PARA) Holdings Decreased by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. cut its position in shares of Paramount Global (NASDAQ:PARA) by 30.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,975 shares of the company’s stock after selling 4,280 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Paramount Global were worth $104,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of Paramount Global by 75.7% in the 2nd quarter. Creative Planning now owns 172,937 shares of the company’s stock worth $1,797,000 after buying an additional 74,535 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Paramount Global by 8.4% in the second 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 during the last quarter. Sanctuary Advisors LLC acquired a new position in Paramount Global in the second quarter valued at approximately $229,000. Czech National Bank grew its holdings in shares of Paramount Global by 28.6% during the third quarter. Czech National Bank now owns 121,149 shares of the company’s stock valued at $1,287,000 after purchasing an additional 26,944 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Paramount Global by 27.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 132,400 shares of the company’s stock worth $1,406,000 after purchasing an additional 28,400 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Up 1.8 %

Shares of NASDAQ PARA opened at $10.92 on Wednesday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The stock has a fifty day moving average price of $10.75 and a two-hundred day moving average price of $10.72. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating 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 analysts’ expectations of $6.94 billion. During the same quarter 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. As a group, equities analysts forecast that Paramount Global will post 1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PARA shares. Macquarie restated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average price target of $12.58.

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.