Raymond James Trust N.A. Acquires New Stake in Paramount Global (NASDAQ:PARA)

Raymond James Trust N.A. bought a new position in shares of Paramount Global (NASDAQ:PARAGet Rating) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 15,350 shares of the company’s stock, valued at approximately $292,000.

Other institutional investors also recently made changes to their positions in the company. Money Concepts Capital Corp purchased a new stake in shares of Paramount Global during the 3rd quarter worth $25,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Paramount Global during the 3rd quarter worth $29,000. Islay Capital Management LLC purchased a new stake in shares of Paramount Global during the 3rd quarter worth $29,000. First National Bank of South Miami purchased a new stake in shares of Paramount Global during the 3rd quarter worth $30,000. Finally, Sargent Bickham Lagudis LLC purchased a new stake in shares of Paramount Global during the 3rd quarter worth $36,000. 74.13% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Trading Down 0.8 %

NASDAQ PARA opened at $20.06 on Monday. Paramount Global has a 12 month low of $15.29 and a 12 month high of $39.21. The company has a 50-day moving average of $18.34 and a 200-day moving average of $21.09. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.31 and a quick ratio of 1.17. The company has a market cap of $13.02 billion, a P/E ratio of 4.27, a P/E/G ratio of 1.22 and a beta of 1.51.

Paramount Global (NASDAQ:PARAGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Paramount Global had a net margin of 10.46% and a return on equity of 5.55%. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.05 billion. As a group, equities analysts predict that Paramount Global will post 1.85 earnings per share for the current year.

Analysts Set New Price Targets

PARA has been the topic of several research analyst reports. Needham & Company LLC decreased their target price on shares of Paramount Global from $36.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, November 2nd. Rosenblatt Securities cut their price target on Paramount Global from $15.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, November 3rd. Bank of America cut their price target on Paramount Global from $28.00 to $19.00 in a research note on Tuesday, October 11th. StockNews.com started coverage on Paramount Global in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group cut their price target on Paramount Global from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, November 3rd. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.68.

Paramount Global Profile

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Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Showtime, BET, Nickelodeon, MTV, Comedy Central, Paramount Network, Smithsonian Channel, and CBS Sports Network.

Further Reading

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

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