Nuveen Asset Management LLC Sells 43,696 Shares of Paramount Global (NASDAQ:PARA)

Nuveen Asset Management LLC reduced its position in Paramount Global (NASDAQ:PARA - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,287,796 shares of the company's stock after selling 43,696 shares during the period. Nuveen Asset Management LLC owned about 0.19% of Paramount Global worth $13,470,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after buying an additional 1,395 shares in the last quarter. Ossiam raised its holdings in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after acquiring an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in shares of Paramount Global during the 4th quarter valued at $31,000. Rakuten Securities Inc. grew its position in Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in Paramount Global during the fourth quarter valued at about $35,000. Institutional investors own 73.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PARA shares. Wall Street Zen initiated coverage on shares of Paramount Global in a report on Saturday, May 17th. They set a "hold" rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Morgan Stanley reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. Guggenheim reaffirmed a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a report on Wednesday, April 2nd. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Paramount Global presently has an average rating of "Hold" and a consensus price target of $11.54.

Paramount Global Stock Performance

Shares of Paramount Global stock remained flat at $12.18 during trading on Friday. The company had a trading volume of 9,096,232 shares, compared to its average volume of 10,067,721. The firm has a market capitalization of $8.17 billion, a PE ratio of -1.48, a P/E/G ratio of 1.68 and a beta of 1.25. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $13.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a 50 day moving average of $11.50 and a 200-day moving average of $11.17.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $7.14 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. The business's revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal 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.