Missouri Trust & Investment Co Sells 1,000 Shares of Paramount Global (NASDAQ:PARA)

Missouri Trust & Investment Co lowered its position in Paramount Global (NASDAQ:PARA) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,655 shares of the company’s stock after selling 1,000 shares during the period. Missouri Trust & Investment Co’s holdings in Paramount Global were worth $373,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PARA. Carson Advisory Inc. raised its position in shares of Paramount Global by 1.9% during the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after purchasing an additional 1,004 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Paramount Global by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after buying an additional 1,356 shares during the period. Stonehearth Capital Management LLC lifted its stake in Paramount Global by 9.3% in the third quarter. Stonehearth Capital Management LLC now owns 16,182 shares of the company’s stock valued at $172,000 after buying an additional 1,374 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Paramount Global by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after buying an additional 1,481 shares during the period. Finally, Huntington National Bank increased its position in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analysts Set New Price Targets

PARA has been the subject of a number of research analyst reports. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie reiterated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Guggenheim cut their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

Paramount Global Trading Up 2.0 %

PARA opened at $10.48 on Wednesday. The stock’s fifty day simple moving average is $10.74 and its 200 day simple moving average is $10.77. Paramount Global has a 1-year low of $9.54 and a 1-year high of $15.70. 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 (NASDAQ:PARA) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Equities research analysts expect that Paramount Global will post 1.78 EPS for the current fiscal year.

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.