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Should You Invest in Paramount Global (PARA)?

Ariel Investments, an investment management company, released its “Ariel Small/Mid Cap Value Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Ariel Small/Mid Cap Value Composite delivered 12.21% gross of fees outperforming both the Russell 2500 Value Index and the Russell 2500 Index, which returned +9.21% and +7.43% respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Ariel Small/Mid Cap Value Strategy highlighted stocks like Paramount Global (NASDAQ:PARA) in the Q4 2022 investor letter. Headquartered in New York, New York, Paramount Global (NASDAQ:PARA) is a media and entertainment company. On March 15, 2023, Paramount Global (NASDAQ:PARA) stock closed at $19.80 per share. One-month return of Paramount Global (NASDAQ:PARA) was -15.74%, and its shares lost 46.30% of their value over the last 52 weeks. Paramount Global (NASDAQ:PARA) has a market capitalization of $13.02 billion.

Ariel Small/Mid Cap Value Strategy made the following comment about Paramount Global (NASDAQ:PARA) in its Q4 2022 investor letter:

"Leading entertainment company, Paramount Global (NASDAQ:PARA) also traded lower on mixed earnings results. Market share gains in streaming and strength in filmed entertainment were partially offset by weakness in linear television, advertising and affiliate subscription fees. Nonetheless, PARA’s fresh array of global content is driving subscriber momentum worldwide across its direct-to-consumer platform with global subscriptions reaching nearly 67 million active users. Additionally, Paramount Pictures opened six #1 films in a row, with Top Gun Maverick becoming the fifth highest grossing domestic movie of all time. While we acknowledge advertising headwinds and investments will continue to weigh on cash flow, we believe PARA’s long-term opportunity in streaming and the value of its proprietary content remain meaningfully underappreciated. At today’s valuation, we view PARA’s risk/reward is skewed sharply to the upside."

Photo by ThisisEngineering RAEng on Unsplash

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Paramount Global (NASDAQ:PARA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Paramount Global (NASDAQ:PARA) at the end of the fourth quarter which was 40 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.