abrdn plc Sells 803,698 Shares of Paramount Global (NASDAQ:PARA)

abrdn plc trimmed its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 94.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,049 shares of the company's stock after selling 803,698 shares during the period. abrdn plc's holdings in Paramount Global were worth $492,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PARA. Blue Trust Inc. increased its holdings in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock worth $26,000 after buying an additional 1,573 shares during the period. Huntington National Bank increased its stake in Paramount Global by 129.0% in the 3rd 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 period. Kennebec Savings Bank purchased a new position in Paramount Global in the 3rd quarter worth approximately $47,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company's stock worth $52,000 after purchasing an additional 4,100 shares during the period. Finally, FNY Investment Advisers LLC increased its stake in Paramount Global by 102.4% in the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock worth $75,000 after purchasing an additional 3,654 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Macquarie reaffirmed an "underperform" rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, StockNews.com upgraded Paramount Global from a "sell" rating to a "hold" rating in a report on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.58.

Paramount Global Stock Up 4.5 %

PARA stock traded up $0.49 during midday trading on Friday, hitting $11.30. The stock had a trading volume of 15,194,052 shares, compared to its average volume of 8,717,945. The business has a 50-day moving average of $10.73 and a two-hundred day moving average of $10.69. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of -1.37, a price-to-earnings-growth ratio of 1.59 and a beta of 1.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54.

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.