Synergy Asset Management LLC Purchases New Stake in Paramount Global (NASDAQ:PARA)

Synergy Asset Management LLC acquired a new position in shares of Paramount Global (NASDAQ:PARA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,320 shares of the company’s stock, valued at approximately $88,000.

A number of other large investors have also recently made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after purchasing an additional 1,573 shares during the last quarter. Huntington National Bank grew its holdings in 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 buying an additional 1,561 shares in the last quarter. Kennebec Savings Bank bought a new position in Paramount Global during the 3rd quarter valued at $47,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Paramount Global by 518.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after acquiring an additional 4,100 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its holdings in Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after acquiring an additional 3,654 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PARA shares. Macquarie restated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Six equities 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 company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.50.

Paramount Global Stock Performance

Paramount Global stock opened at $10.98 on Friday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $15.70. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $10.75.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter last year, the business posted $0.30 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. Analysts expect that Paramount Global will post 1.78 earnings per share 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.