SeaCrest Wealth Management LLC Has $220,000 Stock Position in Paramount Global (NASDAQ:PARA)

SeaCrest Wealth Management LLC lowered its stake in Paramount Global (NASDAQ:PARA) by 13.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,985 shares of the company’s stock after selling 3,136 shares during the period. SeaCrest Wealth Management LLC’s holdings in Paramount Global were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC lifted its holdings in shares of Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after purchasing an additional 3,654 shares during the period. Czech National Bank lifted its holdings in shares of Paramount Global by 6.5% during the fourth quarter. Czech National Bank now owns 129,023 shares of the company’s stock worth $1,350,000 after purchasing an additional 7,874 shares during the period. Graypoint LLC lifted its holdings in shares of Paramount Global by 119.9% during the fourth quarter. Graypoint LLC now owns 47,989 shares of the company’s stock worth $502,000 after purchasing an additional 26,168 shares during the period. Range Financial Group LLC acquired a new position in shares of Paramount Global during the fourth quarter worth $165,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Paramount Global during the fourth quarter worth $255,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Up 1.1 %

NASDAQ:PARA opened at $10.27 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a 50-day moving average of $10.78 and a 200-day moving average of $10.79. The company has a market cap of $6.85 billion, a PE ratio of -1.25, a PEG ratio of 1.48 and a beta of 1.70. Paramount Global has a one year low of $9.54 and a one year high of $15.70.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. As a group, equities research analysts expect that Paramount Global will post 1.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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