Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 97.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,834 shares of the company's stock after selling 1,017,926 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Paramount Global were worth $260,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Paramount Global by 46.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,830 shares of the company's stock valued at $726,000 after purchasing an additional 22,171 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Paramount Global by 7.5% in the fourth quarter. Yousif Capital Management LLC now owns 123,203 shares of the company's stock valued at $1,289,000 after buying an additional 8,629 shares during the last quarter. Mather Group LLC. raised its stake in Paramount Global by 42.3% in the fourth quarter. Mather Group LLC. now owns 8,959 shares of the company's stock valued at $94,000 after buying an additional 2,664 shares in the last quarter. SOL Capital Management CO boosted its position in shares of Paramount Global by 1.6% during the 4th quarter. SOL Capital Management CO now owns 180,604 shares of the company's stock worth $1,889,000 after acquiring an additional 2,830 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of Paramount Global in the 4th quarter valued at about $88,000. Institutional investors and hedge funds own 73.00% of the company's stock.
Wall Street Analysts Forecast Growth
PARA has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 4th. Macquarie restated an "underperform" rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paramount Global 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $12.58.
Check Out Our Latest Research Report on PARA
Paramount Global Stock Performance
Shares of NASDAQ PARA traded up $0.13 during midday trading on Wednesday, reaching $11.44. 11,267,723 shares of the company were exchanged, compared to its average volume of 8,896,003. The stock has a fifty day simple moving average of $10.74 and a 200 day simple moving average of $10.69. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.63 billion, a P/E ratio of -1.39, a PEG ratio of 1.66 and a beta of 1.69. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54.
Paramount Global Company Profile
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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.
Further Reading
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