KBC Group NV Sells 108,811 Shares of Paramount Global (NASDAQ:PARA)

KBC Group NV trimmed its position in Paramount Global (NASDAQ:PARA - Free Report) by 42.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 148,572 shares of the company's stock after selling 108,811 shares during the period. KBC Group NV's holdings in Paramount Global were worth $1,554,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock valued at $26,000 after purchasing an additional 1,573 shares during the period. Huntington National Bank increased its holdings in Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company's stock valued at $29,000 after purchasing an additional 1,561 shares during the period. Kennebec Savings Bank acquired a new stake in Paramount Global in the third quarter valued at $47,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company's stock valued at $52,000 after purchasing an additional 4,100 shares during the period. Finally, FNY Investment Advisers LLC increased its holdings in Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock valued at $75,000 after purchasing an additional 3,654 shares during the period. 73.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PARA shares. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Monday, November 11th. Macquarie restated an "underperform" rating and issued a $10.00 price objective on shares of Paramount Global in a 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 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 stock. According to data from MarketBeat.com, Paramount Global currently has a consensus rating of "Hold" and a consensus target price of $12.50.

Paramount Global Stock Performance

Shares of PARA opened at $10.88 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a 50-day moving average of $10.75 and a 200-day moving average of $10.74. The company has a market cap of $7.26 billion, a PE ratio of -1.32, a P/E/G ratio of 1.62 and a beta of 1.70. Paramount Global has a one year low of $9.54 and a one year high of $15.70.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. On average, equities research analysts predict that Paramount Global will post 1.78 EPS for the current fiscal year.

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.

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