Cidel Asset Management Inc. Has $291,000 Stake in Paramount Global (NASDAQ:PARA)

Cidel Asset Management Inc. raised its holdings in Paramount Global (NASDAQ:PARA) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,782 shares of the company’s stock after buying an additional 3,079 shares during the period. Cidel Asset Management Inc.’s holdings in Paramount Global were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Carson Advisory Inc. boosted its stake in Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after purchasing an additional 1,004 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Paramount Global by 1.6% during 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 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. Blue Trust Inc. lifted its stake in 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 in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Paramount Global by 10.4% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock worth $187,000 after acquiring an additional 1,663 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PARA has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Macquarie reiterated an “underperform” rating and set a $10.00 target price 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 report on Monday, November 11th. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating 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 given a buy rating to the company. Based on data from MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and a consensus price target of $12.58.

Paramount Global Stock Down 1.9 %

NASDAQ PARA opened at $10.63 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The company has a fifty day moving average of $10.75 and a 200-day moving average of $10.71.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, research analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.

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.