Matrix Asset Advisors Inc. NY Sells 27,805 Shares of Paramount Global (NASDAQ:PARA)

Matrix Asset Advisors Inc. NY reduced its stake in shares of Paramount Global (NASDAQ:PARA) by 59.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,310 shares of the company’s stock after selling 27,805 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Paramount Global were worth $202,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PARA. State Street Corp raised its position in Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after purchasing an additional 6,848,037 shares during the last quarter. Geode Capital Management LLC raised its position in Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after purchasing an additional 1,606,779 shares during the last quarter. AQR Capital Management LLC raised its position in Paramount Global by 602.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after purchasing an additional 1,529,719 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in Paramount Global during the 3rd quarter worth $7,222,000. 73.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PARA has been the subject of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Paramount Global currently has an average rating of “Hold” and a consensus price target of $12.50.

Paramount Global Trading Up 0.8 %

PARA stock opened at $11.16 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 52-week low of $9.54 and a 52-week high of $15.70. The business has a 50-day simple moving average of $10.73 and a two-hundred day simple moving average of $10.75.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. Equities analysts forecast that Paramount Global will post 1.78 EPS for the current year.

Paramount Global 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.