Cullen Investment Group LTD. Has $749,000 Holdings in Paramount Global (NASDAQ:PARA)

Cullen Investment Group LTD. cut its position in shares of Paramount Global (NASDAQ:PARA) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,612 shares of the company’s stock after selling 6,268 shares during the quarter. Cullen Investment Group LTD.’s holdings in Paramount Global were worth $749,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after purchasing an additional 1,573 shares in the last quarter. Huntington National Bank raised its stake in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Paramount Global in the second quarter valued at approximately $43,000. Kennebec Savings Bank purchased a new position in shares of Paramount Global during the third quarter valued at approximately $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after buying an additional 4,100 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Trading Up 2.3 %

PARA opened at $10.72 on Tuesday. The stock’s 50 day moving average price is $10.86 and its 200-day moving average price is $10.80. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of -1.30, a P/E/G ratio of 1.35 and a beta of 1.70. 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 has a one year low of $9.54 and a one year high of $15.70.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on PARA. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Guggenheim lowered their price objective 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 reissued an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note 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 stock. According to MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus price target of $12.50.

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.