Clear Harbor Asset Management LLC Lowers Position in Paramount Global (NASDAQ:PARA)

Clear Harbor Asset Management LLC lowered its holdings in Paramount Global (NASDAQ:PARA) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,288 shares of the company’s stock after selling 1,040 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Paramount Global were worth $652,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PARA. Blue Trust Inc. raised its stake in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares in the last quarter. Huntington National Bank raised its position in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Paramount Global during the 3rd quarter worth $47,000. Livforsakringsbolaget Skandia Omsesidigt boosted 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 purchasing an additional 4,100 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in Paramount Global in the second quarter valued at about $68,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

PARA has been the subject of several analyst reports. Guggenheim decreased their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Macquarie restated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and a consensus price target of $12.50.

Paramount Global Trading Up 2.0 %

Shares of NASDAQ:PARA opened at $10.48 on Wednesday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $15.70. 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’s 50 day moving average is $10.74 and its 200 day moving average is $10.77.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data 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. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. Analysts expect that Paramount Global will post 1.78 EPS for the current fiscal year.

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.