Paramount Global (NASDAQ:PARA) Shares Purchased by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. grew its position in Paramount Global (NASDAQ:PARA - Free Report) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,902,332 shares of the company's stock after purchasing an additional 265,408 shares during the quarter. Paramount Global comprises approximately 3.7% of Wilsey Asset Management Inc.'s investment portfolio, making the stock its 15th biggest holding. Wilsey Asset Management Inc. owned about 0.29% of Paramount Global worth $19,898,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock worth $78,533,000 after buying an additional 1,030,592 shares during the last quarter. Bridgewater Associates LP raised its stake in Paramount Global by 50.7% in the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock worth $3,484,000 after acquiring an additional 110,357 shares during the last quarter. Franklin Resources Inc. lifted its position in Paramount Global by 824.1% during the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after acquiring an additional 174,514 shares during the period. Principal Financial Group Inc. grew its stake in Paramount Global by 22.3% during the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company's stock valued at $7,258,000 after purchasing an additional 124,740 shares during the last quarter. Finally, HBK Investments L P acquired a new position in shares of Paramount Global in the third quarter valued at about $5,098,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Macquarie reaffirmed an "underperform" rating and set a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th. Morgan Stanley increased their price objective 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. Finally, StockNews.com upgraded shares of Paramount Global from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $12.58.

Paramount Global Price Performance

Shares of Paramount Global stock traded up $0.17 on Thursday, hitting $10.81. The company's stock had a trading volume of 8,157,248 shares, compared to its average volume of 8,640,602. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 1.59 and a beta of 1.69. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. 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 firm has a fifty day moving average price of $10.73 and a 200-day moving average price of $10.69.

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.