ProShare Advisors LLC raised its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 146.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,864 shares of the company's stock after buying an additional 90,262 shares during the quarter. ProShare Advisors LLC's holdings in Paramount Global were worth $1,787,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Paramount Global by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company's stock worth $862,058,000 after buying an additional 626,256 shares during the last quarter. Kodai Capital Management LP acquired a new position in shares of Paramount Global during the fourth quarter worth approximately $84,842,000. Lingotto Investment Management LLP lifted its holdings in shares of Paramount Global by 375.8% during the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company's stock worth $48,388,000 after buying an additional 2,577,978 shares during the last quarter. Norges Bank acquired a new position in shares of Paramount Global during the fourth quarter worth approximately $41,497,000. Finally, Foundation Resource Management Inc. lifted its holdings in shares of Paramount Global by 3.4% during the first quarter. Foundation Resource Management Inc. now owns 1,101,664 shares of the company's stock worth $12,967,000 after buying an additional 36,382 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.
Paramount Global Stock Down 0.9 %
Paramount Global stock traded down $0.11 during midday trading on Friday, reaching $11.52. The stock had a trading volume of 6,278,050 shares, compared to its average volume of 15,218,976. The firm's fifty day simple moving average is $11.40 and its 200-day simple moving average is $12.04. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The stock has a market capitalization of $7.68 billion, a P/E ratio of -76.79, a price-to-earnings-growth ratio of 0.77 and a beta of 1.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29.
Paramount Global (NASDAQ:PARA - Get Free Report) last announced its earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. During the same quarter last year, the firm earned $0.09 EPS. Paramount Global's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts expect that Paramount Global will post 1.32 EPS for the current fiscal year.
Analyst Ratings Changes
PARA has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on Paramount Global in a research note on Tuesday, June 25th. They issued a "sell" rating and a $9.50 target price for the company. Argus lowered Paramount Global from a "hold" rating to a "sell" rating in a research note on Friday, May 3rd. Evercore ISI cut their target price on Paramount Global from $13.00 to $11.50 and set an "in-line" rating for the company in a research note on Tuesday, July 9th. Needham & Company LLC lowered Paramount Global from a "buy" rating to a "hold" rating in a research note on Tuesday, April 30th. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $14.00 target price on shares of Paramount Global in a research note on Tuesday, June 4th. Eleven analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Paramount Global has an average rating of "Hold" and a consensus target price of $12.83.
View Our Latest Research Report on Paramount Global
About Paramount Global
(
Free Report)
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.
See Also
![Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&Symbol=PARA)
Before you consider Paramount Global, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paramount Global wasn't on the list.
While Paramount Global currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.