Range Financial Group LLC Buys New Holdings in Paramount Global (NASDAQ:PARA)

Range Financial Group LLC purchased a new position in shares of Paramount Global (NASDAQ:PARA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,757 shares of the company’s stock, valued at approximately $165,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PARA. Blue Trust Inc. increased its holdings in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank increased its holdings in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paramount Global in the second quarter valued at $43,000. Kennebec Savings Bank bought a new position in shares of Paramount Global in the third quarter valued at about $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Paramount Global by 518.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after buying an additional 4,100 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Down 0.4 %

Shares of Paramount Global stock opened at $10.89 on Wednesday. The firm’s 50-day moving average price is $10.87 and its two-hundred day moving average price is $10.79. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.35 and a beta of 1.70. 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 has a 12-month low of $9.54 and a 12-month high of $15.70.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same period last year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts forecast that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Guggenheim decreased their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.43.

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.