Mount Yale Investment Advisors LLC Sells 96,883 Shares of Paramount Global (NASDAQ:PARA)

Mount Yale Investment Advisors LLC cut its holdings in Paramount Global (NASDAQ:PARA) by 22.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,939 shares of the company’s stock after selling 96,883 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Paramount Global were worth $3,441,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Carson Advisory Inc. boosted its position in shares of Paramount Global by 1.9% during the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after buying an additional 1,004 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Paramount Global by 8.4% during the second 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 during the last quarter. Stonehearth Capital Management LLC lifted its position in Paramount Global by 9.3% during the third 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 period. PNC Financial Services Group Inc. grew its position in Paramount Global by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after purchasing an additional 1,481 shares during the period. Finally, Huntington National Bank raised its stake in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PARA. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.50.

Paramount Global Price Performance

NASDAQ PARA opened at $11.07 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. The stock’s 50 day moving average is $10.72 and its 200 day moving average is $10.76.

Paramount Global (NASDAQ:PARA) last released its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, research 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.