Hedges Asset Management LLC Has $577,000 Stock Position in Paramount Global (NASDAQ:PARA)

Hedges Asset Management LLC raised its holdings in Paramount Global (NASDAQ:PARA) by 79.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,200 shares of the company’s stock after purchasing an additional 24,500 shares during the quarter. Hedges Asset Management LLC’s holdings in Paramount Global were worth $577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after buying an additional 1,573 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares during 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 grew its holdings in shares of Paramount Global by 518.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in Paramount Global during the 2nd quarter worth approximately $68,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Up 3.4 %

Paramount Global stock opened at $10.87 on Friday. The stock’s 50 day moving average is $10.72 and its 200 day moving average is $10.77. Paramount Global has a one year low of $9.54 and a one year 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 issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, research analysts anticipate that Paramount Global will post 1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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