Stonehearth Capital Management LLC Has $147,000 Holdings in Paramount Global (NASDAQ:PARA)

Stonehearth Capital Management LLC decreased its stake in shares of Paramount Global (NASDAQ:PARA) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,016 shares of the company’s stock after selling 2,166 shares during the period. Stonehearth Capital Management LLC’s holdings in Paramount Global were worth $147,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Lingotto Investment Management LLP grew its holdings in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after acquiring an additional 25,829,185 shares in the last quarter. State Street Corp grew its stake in Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the period. Ariel Investments LLC increased its position in shares of Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after purchasing an additional 1,992,576 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after purchasing an additional 1,606,779 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Paramount Global by 602.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after buying an additional 1,529,719 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of NASDAQ PARA traded up $0.09 during trading hours on Tuesday, reaching $11.02. 2,992,436 shares of the stock traded hands, compared to its average volume of 6,388,919. The company’s 50-day simple moving average is $10.87 and its two-hundred day simple moving average is $10.78. The company has a market capitalization of $7.35 billion, a P/E ratio of -1.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.70. Paramount Global has a 52-week low of $9.54 and a 52-week 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.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts forecast that Paramount Global will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

PARA has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Guggenheim lowered 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. Macquarie reiterated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $12.43.

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.