Carson Advisory Inc. Raises Holdings in Paramount Global (NASDAQ:PARA)

Carson Advisory Inc. boosted its holdings in shares of Paramount Global (NASDAQ:PARA) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,457 shares of the company’s stock after acquiring an additional 1,827 shares during the quarter. Carson Advisory Inc.’s holdings in Paramount Global were worth $606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PARA. Tokio Marine Asset Management Co. Ltd. raised its position in Paramount Global by 5.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after purchasing an additional 769 shares during the period. Highlander Capital Management LLC boosted its holdings in Paramount Global by 13.4% during the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after acquiring an additional 850 shares during the period. Kestra Private Wealth Services LLC grew its position in Paramount Global by 3.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock valued at $431,000 after acquiring an additional 879 shares in the last quarter. Arizona State Retirement System increased its stake in Paramount Global by 0.7% during the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock worth $1,985,000 after purchasing an additional 887 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in shares of Paramount Global by 5.2% during the fourth quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock worth $266,000 after purchasing an additional 889 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of PARA traded up $0.17 during mid-day trading on Wednesday, hitting $11.70. The company’s stock had a trading volume of 16,326,083 shares, compared to its average volume of 19,162,617. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The firm has a market capitalization of $7.80 billion, a P/E ratio of -77.99, a P/E/G ratio of 0.37 and a beta of 1.78. The firm has a 50-day simple moving average of $11.60 and a 200 day simple moving average of $12.19.

Paramount Global (NASDAQ:PARA) last released its earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. During the same quarter last year, the company earned $0.09 earnings per share. Paramount Global’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that Paramount Global will post 1.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PARA. The Goldman Sachs Group initiated coverage on shares of Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price on the stock. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Seaport Res Ptn cut Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Wolfe Research lowered Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research report on Tuesday. Finally, Needham & Company LLC cut Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Eleven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.83.

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.