United Capital Financial Advisers LLC Acquires Shares of 13,550 Paramount Global (NASDAQ:PARA)

Posted by on Mar 8th, 2023

United Capital Financial Advisers LLC bought a new position in Paramount Global (NASDAQ:PARA – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,550 shares of the company’s stock, valued at approximately $258,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Money Concepts Capital Corp bought a new stake in shares of Paramount Global in the 3rd quarter worth $25,000. Ellevest Inc. bought a new stake in shares of Paramount Global in the 3rd quarter worth $25,000. Lowe Wealth Advisors LLC bought a new stake in shares of Paramount Global in the 3rd quarter worth $29,000. Islay Capital Management LLC bought a new stake in shares of Paramount Global in the 3rd quarter worth $29,000. Finally, MUFG Americas Holdings Corp bought a new stake in shares of Paramount Global in the 3rd quarter worth $29,000. Institutional investors own 74.13% of the company’s stock.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $21.48 on Wednesday. The stock’s 50-day simple moving average is $21.37 and its 200-day simple moving average is $20.37. Paramount Global has a 52 week low of $15.29 and a 52 week high of $39.21. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 3.85 and a beta of 1.63. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 0.66.

Paramount Global (NASDAQ:PARA – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). The business had revenue of $8.13 billion during 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%. Paramount Global’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, analysts expect that Paramount Global will post 0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Needham & Company LLC lifted their price objective on Paramount Global from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Credit Suisse Group lifted their price objective on Paramount Global from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Macquarie lowered Paramount Global from a “neutral” rating to an “underperform” rating and set a $15.00 price objective for the company. in a report on Tuesday, January 31st. Morgan Stanley cut their price objective on Paramount Global from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Monday, December 19th. Finally, StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a report on Monday, February 20th. Eleven investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.86.

Paramount Global 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.

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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