ProShare Advisors LLC Has $1.79 Million Stock Position in Paramount Global (NASDAQ:PARA)

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.

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.