R Squared Ltd Acquires New Stake in Paramount Global (NASDAQ:PARA)

R Squared Ltd acquired a new position in shares of Paramount Global (NASDAQ:PARA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,700 shares of the company’s stock, valued at approximately $154,000.

Several other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after purchasing an additional 1,573 shares in the last quarter. Huntington National Bank raised its stake in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of Paramount Global in the 3rd quarter valued at approximately $47,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after buying an additional 4,100 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after acquiring an additional 3,654 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of PARA opened at $11.09 on Thursday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $15.70. The company’s 50 day simple moving average is $10.76 and its 200 day simple moving average is $10.75. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of -1.35, a PEG ratio of 1.53 and a beta of 1.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. On average, sell-side analysts predict that Paramount Global will post 1.78 EPS for the current year.

Analyst Upgrades and Downgrades

PARA has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global 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 issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

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.