Kestra Investment Management LLC purchased a new stake in Paramount Global (NASDAQ:PARA – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,772 shares of the company’s stock, valued at approximately $175,000.
A number of other hedge funds have also modified their holdings of PARA. Allworth Financial LP increased its position in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. Blue Trust Inc. boosted its stake 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 during the last quarter. Huntington National Bank grew its holdings in shares of 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. Kennebec Savings Bank acquired a new position in shares of Paramount Global in the third quarter valued at approximately $47,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after buying an additional 3,654 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have commented on PARA shares. 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 note on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.58.
Paramount Global Stock Up 0.3 %
PARA opened at $11.47 on Friday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The firm has a 50 day moving average price of $10.74 and a 200 day moving average price of $10.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $7.65 billion, a PE ratio of -1.40, a price-to-earnings-growth ratio of 1.66 and a beta of 1.69.
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 ChilevisiĆ³n; 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.
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