Guggenheim Capital LLC Invests $1.64 Million in Paramount Global (NASDAQ:PARA)

Posted by Defense World Staff on Mar 5th, 2023

Guggenheim Capital LLC bought a new stake in shares of Paramount Global (NASDAQ:PARA – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 86,353 shares of the company’s stock, valued at approximately $1,643,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PARA. Money Concepts Capital Corp purchased a new stake in Paramount Global during the third quarter valued at approximately $25,000. Ellevest Inc. purchased a new stake in Paramount Global during the third quarter valued at approximately $25,000. Lowe Wealth Advisors LLC purchased a new stake in Paramount Global during the third quarter valued at approximately $29,000. Islay Capital Management LLC purchased a new stake in Paramount Global during the third quarter valued at approximately $29,000. Finally, MUFG Americas Holdings Corp purchased a new stake in Paramount Global during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 74.13% of the company’s stock.

Paramount Global Stock Up 1.1 %

PARA stock opened at $22.59 on Friday. The firm has a market cap of $14.66 billion, a PE ratio of 14.12, a P/E/G ratio of 3.03 and a beta of 1.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.23. The firm’s fifty day moving average is $21.17 and its 200 day moving average is $20.47. Paramount Global has a one year low of $15.29 and a one year high of $39.21.

Paramount Global (NASDAQ:PARA – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.10). The company had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $8.16 billion. Paramount Global had a net margin of 3.66% and a return on equity of 5.03%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. On average, research analysts forecast that Paramount Global will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Credit Suisse Group raised their price target on shares of Paramount Global from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Guggenheim raised their price target on shares of Paramount Global from $20.00 to $22.00 in a report on Thursday, January 12th. Loop Capital cut shares of Paramount Global from a “hold” rating to a “sell” rating and decreased their price target for the stock from $30.00 to $14.00 in a report on Friday, December 23rd. StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a report on Monday, February 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $31.00 price target on shares of Paramount Global in a report on Wednesday, February 15th. Eleven investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Paramount Global presently has a consensus rating of “Hold” and a consensus price target of $21.86.

Paramount Global Company Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.