SG Americas Securities LLC Raises Stake in Paramount Global (NASDAQ:PARA)

SG Americas Securities LLC grew its holdings in Paramount Global (NASDAQ:PARA) by 668.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 266,558 shares of the company’s stock after buying an additional 231,872 shares during the period. SG Americas Securities LLC’s holdings in Paramount Global were worth $2,788,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. increased its position in Paramount Global by 1.3% in the 2nd quarter. American Century Companies Inc. now owns 149,144 shares of the company’s stock valued at $1,550,000 after acquiring an additional 1,984 shares during the period. Sei Investments Co. grew its stake in shares of Paramount Global by 2.6% in the 2nd quarter. Sei Investments Co. now owns 158,629 shares of the company’s stock valued at $1,648,000 after purchasing an additional 4,001 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Paramount Global by 640.3% in the second quarter. Thrivent Financial for Lutherans now owns 145,638 shares of the company’s stock valued at $1,514,000 after purchasing an additional 125,965 shares during the period. Profund Advisors LLC raised its stake in shares of Paramount Global by 20.9% during the second quarter. Profund Advisors LLC now owns 16,083 shares of the company’s stock worth $167,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Paramount Global by 3.2% during the second quarter. Public Sector Pension Investment Board now owns 88,349 shares of the company’s stock worth $918,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.07 on Friday. The business has a 50 day moving average price of $10.72 and a 200 day moving average price of $10.76. The company has a market capitalization of $7.38 billion, a P/E ratio of -1.35, a PEG ratio of 1.53 and a beta of 1.70. Paramount Global has a 1-year low of $9.54 and a 1-year 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 posted 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 company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. Paramount Global’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Paramount Global will post 1.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.