Linden Thomas Advisory Services LLC Reduces Holdings in Paramount Global (NASDAQ:PARA)

Linden Thomas Advisory Services LLC decreased its position in Paramount Global (NASDAQ:PARA) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 78,211 shares of the company’s stock after selling 2,710 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Paramount Global were worth $818,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of Paramount Global by 1.3% in the 2nd quarter. American Century Companies Inc. now owns 149,144 shares of the company’s stock worth $1,550,000 after acquiring an additional 1,984 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Paramount Global by 2.6% in the 2nd quarter. Sei Investments Co. now owns 158,629 shares of the company’s stock worth $1,648,000 after acquiring an additional 4,001 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Paramount Global by 640.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 145,638 shares of the company’s stock worth $1,514,000 after acquiring an additional 125,965 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of Paramount Global by 20.9% in the 2nd quarter. Profund Advisors LLC now owns 16,083 shares of the company’s stock worth $167,000 after acquiring an additional 2,783 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Paramount Global by 3.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 88,349 shares of the company’s stock worth $918,000 after acquiring an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 1.8 %

Shares of NASDAQ:PARA opened at $11.07 on Monday. Paramount Global has a 52 week low of $9.54 and a 52 week high of $15.70. The company’s 50 day moving average is $10.72 and its two-hundred day moving average is $10.76. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market cap of $7.38 billion, a PE ratio of -1.35, a P/E/G ratio of 1.53 and a beta of 1.70.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 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 company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the prior year, the firm posted $0.30 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities analysts predict that Paramount Global will post 1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PARA has been the topic of several recent analyst reports. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Macquarie reiterated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Paramount Global has a consensus 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.