Victory Capital Management Inc. Buys Shares of 1,157,766 Paramount Global (NASDAQ:PARA)
Victory Capital Management Inc. purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Get Rating) during the third quarter, according to its most recent Form 13F filing with the…

Victory Capital Management Inc. purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,157,766 shares of the company's stock, valued at approximately $22,044,000. Victory Capital Management Inc. owned approximately 0.18% of Paramount Global at the end of the most recent quarter.
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Other hedge funds have also recently made changes to their positions in the company. Money Concepts Capital Corp acquired a new position in Paramount Global in the third quarter valued at approximately $25,000. Lowe Wealth Advisors LLC bought a new stake in shares of Paramount Global in the 3rd quarter worth $29,000. Islay Capital Management LLC bought a new stake in shares of Paramount Global in the 3rd quarter worth $29,000. MUFG Americas Holdings Corp bought a new stake in shares of Paramount Global in the 3rd quarter worth $29,000. Finally, First National Bank of South Miami bought a new stake in shares of Paramount Global in the 3rd quarter worth $30,000. 74.13% of the stock is owned by institutional investors and hedge funds.
Paramount Global Stock Down 1.6 %
Shares of NASDAQ PARA opened at $20.83 on Wednesday. Paramount Global has a one year low of $15.29 and a one 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 firm's 50 day simple moving average is $18.76 and its two-hundred day simple moving average is $20.85. The stock has a market capitalization of $13.52 billion, a P/E ratio of 4.43, a PEG ratio of 1.31 and a beta of 1.51.
Paramount Global (NASDAQ:PARA - Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). Paramount Global had a net margin of 10.46% and a return on equity of 5.55%. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.05 billion. As a group, analysts expect that Paramount Global will post 1.85 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PARA. Barclays reduced their target price on shares of Paramount Global from $20.00 to $15.00 in a research note on Tuesday, October 11th. Royal Bank of Canada reduced their price target on shares of Paramount Global from $34.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, November 3rd. Bank of America reduced their price target on shares of Paramount Global from $28.00 to $19.00 in a research report on Tuesday, October 11th. Wells Fargo & Company lowered shares of Paramount Global from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $19.00 to $13.00 in a research report on Monday, October 31st. Finally, Benchmark dropped their price objective on shares of Paramount Global from $47.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, November 3rd. Nine research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $21.68.
Paramount Global Company 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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