Brinker Capital Investments LLC Buys Shares of 28,874 Paramount Global (NASDAQ:PARA)

Brinker Capital Investments LLC bought a new stake in shares of Paramount Global (NASDAQ:PARAGet 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 28,874 shares of the company’s stock, valued at approximately $550,000.

A number of other large investors have also made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new stake in shares of Paramount Global in the third quarter valued at approximately $459,000. Parkside Financial Bank & Trust purchased a new stake in shares of Paramount Global in the third quarter valued at approximately $46,000. Great West Life Assurance Co. Can purchased a new stake in shares of Paramount Global in the third quarter valued at approximately $19,750,000. Sentry Investment Management LLC purchased a new stake in shares of Paramount Global in the third quarter valued at approximately $64,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Paramount Global in the third quarter valued at approximately $665,000. 74.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Benchmark dropped their price target on Paramount Global from $47.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. Guggenheim increased their price objective on Paramount Global from $20.00 to $22.00 in a research report on Thursday, January 12th. Morgan Stanley lowered their price objective on Paramount Global from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Monday, December 19th. The Goldman Sachs Group lowered their price objective on Paramount Global from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, November 3rd. Finally, Loop Capital lowered Paramount Global from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $30.00 to $14.00 in a research report on Friday, December 23rd. Nine investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.68.

Paramount Global Stock Down 1.6 %

Shares of NASDAQ PARA opened at $20.83 on Wednesday. The stock has a market cap of $13.52 billion, a P/E ratio of 4.43, a PEG ratio of 1.26 and a beta of 1.51. The company has a current ratio of 1.31, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. Paramount Global has a 12-month low of $15.29 and a 12-month high of $39.21. The business’s fifty day simple moving average is $18.76 and its 200-day simple moving average is $20.85.

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

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.

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

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