Range Financial Group LLC Invests $165,000 in Paramount Global (NASDAQ:PARA)

Range Financial Group LLC purchased a new stake in shares of Paramount Global (NASDAQ:PARA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 15,757 shares of the company’s stock, valued at approximately $165,000.

Other institutional investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new position in shares of Paramount Global during the fourth quarter worth $255,000. GAMMA Investing LLC increased its holdings in Paramount Global by 74.0% in the 4th quarter. GAMMA Investing LLC now owns 10,842 shares of the company’s stock worth $113,000 after purchasing an additional 4,611 shares in the last quarter. Principal Financial Group Inc. raised its position in Paramount Global by 22.3% in the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock valued at $7,258,000 after purchasing an additional 124,740 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Paramount Global by 12.8% during the third quarter. Retirement Systems of Alabama now owns 179,384 shares of the company’s stock valued at $1,905,000 after purchasing an additional 20,335 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 174,514 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Trading Down 0.4 %

NASDAQ:PARA opened at $10.89 on Wednesday. The firm has a fifty day simple moving average of $10.87 and a two-hundred day simple moving average of $10.79. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.35 and a beta of 1.70. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period in the previous year, the company posted $0.30 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. Analysts expect that Paramount Global will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Guggenheim lowered their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Paramount Global currently has an average rating of “Hold” and a consensus price target of $12.43.

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.