Allspring Global Investments Holdings LLC bought a new position in shares of Paramount Global (NASDAQ:PARA - Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 46,343 shares of the company's stock, valued at approximately $882,000.
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Other institutional investors and hedge funds have also bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new stake in Paramount Global during the third quarter worth about $29,000. Islay Capital Management LLC bought a new stake in Paramount Global during the third quarter worth about $29,000. JFS Wealth Advisors LLC bought a new stake in Paramount Global in the third quarter valued at approximately $42,000. R.H. Dinel Investment Counsel Inc. bought a new stake in Paramount Global in the third quarter valued at approximately $45,000. Finally, Hartford Financial Management Inc. bought a new stake in Paramount Global in the third quarter valued at approximately $58,000. Institutional investors own 74.13% of the company's stock.
Paramount Global Trading Up 3.7 %
Shares of NASDAQ:PARA opened at $20.30 on Monday. The company has a market capitalization of $13.18 billion, a P/E ratio of 4.32, a P/E/G ratio of 1.26 and a beta of 1.51. Paramount Global has a 1 year low of $15.29 and a 1 year high of $39.21. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.31 and a quick ratio of 1.17. The business's 50 day simple moving average is $18.68 and its 200 day simple moving average is $20.91.
Paramount Global (NASDAQ:PARA - Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). Paramount Global had a return on equity of 5.55% and a net margin of 10.46%. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.05 billion. On average, research analysts anticipate that Paramount Global will post 1.85 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have issued reports on PARA shares. Credit Suisse Group dropped their price objective on Paramount Global from $31.00 to $24.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 12th. Wells Fargo & Company lowered Paramount Global from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $19.00 to $13.00 in a research note on Monday, October 31st. Royal Bank of Canada dropped their price objective on Paramount Global from $34.00 to $28.00 and set an "outperform" rating on the stock in a research note on Thursday, November 3rd. Loop Capital lowered Paramount Global from a "hold" rating to a "sell" rating and lowered their target price for the stock from $30.00 to $14.00 in a research note on Friday, December 23rd. Finally, Needham & Company LLC lowered their target price on Paramount Global from $36.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, November 2nd. Nine analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $21.68.
Paramount Global Profile
Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company's digital streaming services, CBS All Access and CBSN.
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