Rockefeller Capital Management L.P. Purchases Shares of 152,691 Paramount Global (NASDAQ:PARA)
Illinois Municipal Retirement Fund purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with…
Rockefeller Capital Management L.P. acquired a new position in Paramount Global (NASDAQ:PARA - Get Rating) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 152,691 shares of the company's stock, valued at approximately $2,906,000.
→ Is This The End of Capitalism? (From Porter & Company)
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sandy Spring Bank acquired a new stake in shares of Paramount Global in the third quarter worth $72,000. First National Trust Co acquired a new stake in shares of Paramount Global in the third quarter worth $932,000. Ellevest Inc. acquired a new stake in Paramount Global during the third quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new stake in Paramount Global during the third quarter valued at $987,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Paramount Global during the third quarter valued at $2,358,000. Institutional investors and hedge funds own 74.13% of the company's stock.
Wall Street Analyst Weigh In
PARA has been the topic of several analyst reports. Loop Capital lowered shares of Paramount Global from a "hold" rating to a "sell" rating and dropped their price target for the company from $30.00 to $14.00 in a research report on Friday, December 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Paramount Global from $32.00 to $28.00 in a research report on Friday, November 4th. Royal Bank of Canada dropped their price target on shares of Paramount Global from $34.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, November 3rd. Wells Fargo & Company lowered shares of Paramount Global from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $19.00 to $13.00 in a research report on Monday, October 31st. Finally, Guggenheim increased their price objective on shares of Paramount Global from $20.00 to $22.00 in a report on Thursday, January 12th. Nine investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Paramount Global currently has a consensus rating of "Hold" and a consensus price target of $21.68.
Paramount Global Stock Performance
NASDAQ:PARA opened at $21.16 on Tuesday. The company's 50-day moving average price is $18.73 and its 200-day moving average price is $20.88. The company has a current ratio of 1.31, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The company has a market cap of $13.74 billion, a P/E ratio of 4.50, a P/E/G ratio of 1.26 and a beta of 1.51. Paramount Global has a twelve month low of $15.29 and a twelve month high of $39.21.
Paramount Global (NASDAQ:PARA - Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.39 earnings per share (EPS) 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 firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.05 billion. On average, sell-side analysts forecast that Paramount Global will post 1.85 earnings per share for the current fiscal year.
About Paramount Global
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.
Recommended Stories
Want to see what other hedge funds are holding PARA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paramount Global (NASDAQ:PARA - Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to EMAIL.
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 "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here