Mount Yale Investment Advisors LLC Cuts Stock Position in Paramount Global (NASDAQ:PARA)

Mount Yale Investment Advisors LLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. American Century Companies Inc. raised its position in shares of Paramount Global by 1.3% during the 2nd quarter. American Century Companies Inc. now owns 149,144 shares of the company’s stock valued at $1,550,000 after buying an additional 1,984 shares in the last quarter. Sei Investments Co. increased its stake in Paramount Global by 2.6% during the second quarter. Sei Investments Co. now owns 158,629 shares of the company’s stock worth $1,648,000 after acquiring an additional 4,001 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Paramount Global by 640.3% during the second quarter. Thrivent Financial for Lutherans now owns 145,638 shares of the company’s stock valued at $1,514,000 after purchasing an additional 125,965 shares during the period. Profund Advisors LLC lifted its stake in shares of Paramount Global by 20.9% in the 2nd quarter. Profund Advisors LLC now owns 16,083 shares of the company’s stock valued at $167,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Paramount Global by 3.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 88,349 shares of the company’s stock worth $918,000 after purchasing an additional 2,700 shares during the period. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PARA shares. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Macquarie reissued an “underperform” rating and issued a $10.00 target price 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 research note on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.50.

Paramount Global Trading Up 1.8 %

Paramount Global stock opened at $11.07 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average price of $10.72 and a 200-day moving average price of $10.76. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $15.70.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data 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 positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period last year, the business posted $0.30 EPS. Paramount Global’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities research analysts forecast that Paramount Global will post 1.78 earnings per share for the current 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.