Jeppson Wealth Management LLC Lowers Stock Position in Paramount Global (NASDAQ:PARA)

Jeppson Wealth Management LLC reduced its holdings in Paramount Global (NASDAQ:PARA) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,625 shares of the company’s stock after selling 2,626 shares during the period. Jeppson Wealth Management LLC’s holdings in Paramount Global were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC increased its position in shares of Paramount Global by 27.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 33,254 shares of the company’s stock worth $348,000 after purchasing an additional 7,167 shares in the last quarter. Insight Inv LLC increased its position in Paramount Global by 9.8% during the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after purchasing an additional 1,825 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Paramount Global by 383.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 110,743 shares of the company’s stock valued at $1,158,000 after buying an additional 87,817 shares during the period. Hedges Asset Management LLC raised its position in Paramount Global by 79.8% in the fourth quarter. Hedges Asset Management LLC now owns 55,200 shares of the company’s stock valued at $577,000 after purchasing an additional 24,500 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Paramount Global by 668.5% in the 4th quarter. SG Americas Securities LLC now owns 266,558 shares of the company’s stock valued at $2,788,000 after buying an additional 231,872 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Up 0.8 %

Paramount Global stock opened at $11.16 on Tuesday. The stock has a 50 day moving average of $10.73 and a two-hundred day moving average of $10.75. Paramount Global has a twelve month low of $9.54 and a twelve 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 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. 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 during the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter last year, the business earned $0.30 EPS. The business’s 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 fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on PARA. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie reiterated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.50.

About Paramount Global

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.