Mitchell & Pahl Private Wealth LLC Acquires 1,848 Shares of Paramount Global (NASDAQ:PARA)

Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Paramount Global (NASDAQ:PARA) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,770 shares of the company’s stock after acquiring an additional 1,848 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Paramount Global were worth $531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares in the last quarter. Huntington National Bank raised its position in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares in the last quarter. Kennebec Savings Bank bought a new position in Paramount Global during the third quarter valued at approximately $47,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Paramount Global by 518.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in Paramount Global during the second quarter valued at approximately $68,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Up 2.0 %

PARA opened at $10.48 on Wednesday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week 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. The firm’s fifty day moving average price is $10.74 and its two-hundred day moving average price is $10.77. The company has a market capitalization of $6.99 billion, a P/E ratio of -1.27, a P/E/G ratio of 1.50 and a beta of 1.70.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping 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 firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. On average, analysts anticipate that Paramount Global will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

PARA has been the topic of a number of recent analyst reports. Guggenheim dropped their price target on shares of 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 research report on Monday, November 11th. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.50.

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.