Smith Thornton Advisors LLC Sells 4,551 Shares of Paramount Global (NASDAQ:PARA)

Smith Thornton Advisors LLC cut its position in Paramount Global (NASDAQ:PARA) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,816 shares of the company’s stock after selling 4,551 shares during the quarter. Smith Thornton Advisors LLC’s holdings in Paramount Global were worth $594,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank raised its holdings in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares in the last quarter. Kennebec Savings Bank acquired a new position in Paramount Global in the 3rd quarter worth about $47,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in Paramount Global in the 2nd quarter worth about $68,000. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Trading Down 2.2 %

Shares of Paramount Global stock opened at $10.44 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 52 week low of $9.54 and a 52 week high of $15.70. The stock has a 50 day moving average price of $10.83 and a two-hundred day moving average price of $10.80. The stock has a market capitalization of $6.96 billion, a PE ratio of -1.27, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data 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 firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Paramount Global will post 1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PARA shares. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Guggenheim lowered their price objective 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. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.50.

Paramount Global 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.