Stonehearth Capital Management LLC Sells 2,166 Shares of Paramount Global (NASDAQ:PARA)

Stonehearth Capital Management LLC lowered its position in shares of Paramount Global (NASDAQ:PARA) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,016 shares of the company’s stock after selling 2,166 shares during the period. Stonehearth Capital Management LLC’s holdings in Paramount Global were worth $147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PARA. Lingotto Investment Management LLP raised its stake in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after purchasing an additional 25,829,185 shares during the last quarter. State Street Corp grew its stake in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after acquiring an additional 6,848,037 shares during the period. Ariel Investments LLC raised its holdings in shares of Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after purchasing an additional 1,992,576 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Paramount Global by 12.1% in the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after purchasing an additional 1,606,779 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Paramount Global by 602.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after purchasing an additional 1,529,719 shares during the period. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of Paramount Global stock traded up $0.09 on Tuesday, hitting $11.02. 2,992,436 shares of the company traded hands, compared to its average volume of 6,388,919. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The business has a 50-day simple moving average of $10.87 and a 200 day simple moving average of $10.78. Paramount Global has a 52 week low of $9.54 and a 52 week high of $15.70. The stock has a market capitalization of $7.35 billion, a P/E ratio of -1.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.70.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.24 by $0.25. The business 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 business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. Research analysts expect that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research reports. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Guggenheim cut their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Macquarie restated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Paramount Global has a consensus rating of “Hold” and a consensus target price of $12.43.

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.