Neo Ivy Capital Management Has $359,000 Stock Position in Paramount Global (NASDAQ:PARA)

Neo Ivy Capital Management cut its stake in shares of Paramount Global (NASDAQ:PARA) by 85.3% in the 4th quarter, HoldingsChannel reports. The fund owned 34,416 shares of the company’s stock after selling 199,324 shares during the quarter. Neo Ivy Capital Management’s holdings in Paramount Global were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Voloridge Investment Management LLC acquired a new stake in Paramount Global during the 4th quarter worth approximately $5,688,000. Waverly Advisors LLC acquired a new stake in shares of Paramount Global during the fourth quarter worth $106,000. Woodline Partners LP bought a new stake in shares of Paramount Global in the fourth quarter valued at about $11,096,000. Two Sigma Advisers LP acquired a new position in shares of Paramount Global in the fourth quarter valued at about $1,839,000. Finally, Two Sigma Investments LP bought a new position in Paramount Global during the fourth quarter worth about $21,229,000. Institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

PARA has been the subject of a number of recent research reports. UBS Group cut their price objective on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Wednesday, April 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim restated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Benchmark cut their price objective on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and an average target price of $11.50.

Paramount Global Stock Up 0.9%

PARA stock opened at $11.97 on Friday. The firm has a 50-day moving average price of $11.47 and a 200-day moving average price of $11.15. Paramount Global has a 12 month low of $9.54 and a 12 month high of $13.05. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $8.03 billion, a P/E ratio of -1.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $7.14 billion. During the same period in the prior year, the company earned $0.62 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

About Paramount Global

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.