Avaii Wealth Management LLC Sells 1,310 Shares of Paramount Global (NASDAQ:PARA)

Avaii Wealth Management LLC trimmed its position in shares of Paramount Global (NASDAQ:PARA) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,452 shares of the company’s stock after selling 1,310 shares during the period. Avaii Wealth Management LLC’s holdings in Paramount Global were worth $224,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Carson Advisory Inc. increased its stake in Paramount Global by 1.9% in the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after acquiring an additional 1,004 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Paramount Global by 8.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after purchasing an additional 1,356 shares in the last quarter. Stonehearth Capital Management LLC increased its stake in shares of Paramount Global by 9.3% in the 3rd quarter. Stonehearth Capital Management LLC now owns 16,182 shares of the company’s stock valued at $172,000 after purchasing an additional 1,374 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Paramount Global by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after buying an additional 1,481 shares in the last quarter. Finally, Huntington National Bank lifted its position 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 during the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Price Performance

Shares of PARA opened at $11.07 on Friday. The stock’s 50-day moving average price is $10.72 and its two-hundred day moving average price is $10.76. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

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

Analyst Ratings Changes

Several brokerages have commented on PARA. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Macquarie restated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.