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

Avaii Wealth Management LLC reduced its holdings in Paramount Global (NASDAQ:PARA) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,452 shares of the company’s stock after selling 1,310 shares during the quarter. Avaii Wealth Management LLC’s holdings in Paramount Global were worth $224,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PARA. Insight Inv LLC increased its stake in shares of Paramount Global by 9.8% in the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after acquiring an additional 1,825 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Paramount Global by 383.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 110,743 shares of the company’s stock worth $1,158,000 after purchasing an additional 87,817 shares during the period. Hedges Asset Management LLC increased its stake 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 in the last quarter. SG Americas Securities LLC raised its holdings in shares of Paramount Global by 668.5% during the fourth quarter. SG Americas Securities LLC now owns 266,558 shares of the company’s stock valued at $2,788,000 after purchasing an additional 231,872 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC boosted its position in shares of Paramount Global by 3.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company’s stock worth $531,000 after purchasing an additional 1,848 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PARA has been the topic of a number of research reports. Macquarie reaffirmed an “underperform” rating and set a $10.00 price target 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 research report on Monday, November 11th. Finally, StockNews.com raised shares of 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 given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

Paramount Global Trading Up 1.8 %

Shares of PARA stock opened at $11.07 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average of $10.72 and a 200-day moving average of $10.76. Paramount Global has a one year low of $9.54 and a one year high of $15.70.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating 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 firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Paramount Global will post 1.78 earnings per share for the current fiscal year.

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.