Paramount Global (NASDAQ:PARA) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 313.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,833 shares of the company's stock after acquiring an additional 209,856 shares during the quarter. Janus Henderson Group PLC's holdings in Paramount Global were worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PARA. HB Wealth Management LLC acquired a new position in shares of Paramount Global during the 4th quarter valued at $127,000. Ballentine Partners LLC boosted its position in Paramount Global by 14.8% in the 4th quarter. Ballentine Partners LLC now owns 27,866 shares of the company's stock valued at $291,000 after buying an additional 3,590 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in Paramount Global by 3.8% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company's stock valued at $531,000 after buying an additional 1,848 shares during the last quarter. SG Americas Securities LLC boosted its position in Paramount Global by 668.5% in the 4th quarter. SG Americas Securities LLC now owns 266,558 shares of the company's stock valued at $2,788,000 after buying an additional 231,872 shares during the last quarter. Finally, Hedges Asset Management LLC boosted its position in Paramount Global by 79.8% in the 4th quarter. Hedges Asset Management LLC now owns 55,200 shares of the company's stock valued at $577,000 after buying an additional 24,500 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PARA. Benchmark cut their target price on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen began coverage on shares of Paramount Global in a research note on Saturday, May 17th. They set a "hold" rating for the company. UBS Group reduced their price target on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a report on Wednesday, April 2nd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Paramount Global presently has a consensus rating of "Hold" and an average price target of $11.50.

Paramount Global Stock Performance

Shares of PARA traded up $0.11 during mid-day trading on Friday, reaching $11.97. 4,858,421 shares of the company's stock traded hands, compared to its average volume of 10,206,176. 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 business's 50-day moving average price is $11.47 and its 200-day moving average price is $11.15. The stock has a market capitalization of $8.03 billion, a P/E ratio of -1.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Paramount Global has a 12 month low of $9.54 and a 12 month high of $13.05.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $7.19 billion for the quarter, compared to analysts' expectations of $7.14 billion. During the same period last year, the firm earned $0.62 EPS. The firm's revenue was down 6.4% compared to the same quarter last year. Equities analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

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.