Two Sigma Investments LP Buys New Shares in Paramount Global (NASDAQ:PARA)

Two Sigma Investments LP acquired a new stake in shares of Paramount Global (NASDAQ:PARA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,029,510 shares of the company's stock, valued at approximately $21,229,000. Two Sigma Investments LP owned about 0.30% of Paramount Global as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PARA. Allworth Financial LP grew its position in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after buying an additional 1,395 shares during the last quarter. Ossiam grew its position in Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after purchasing an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global in the 4th quarter worth about $31,000. Rakuten Securities Inc. grew its position in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in Paramount Global in the 4th quarter worth about $35,000. Institutional investors own 73.00% of the company's stock.

Analysts Set New Price Targets

PARA has been the subject of several recent analyst reports. Guggenheim restated a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. 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 research report on Wednesday, April 2nd. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. UBS Group decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased 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 Wednesday, May 21st. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.50.

Paramount Global Price Performance

Shares of NASDAQ:PARA traded up $0.06 during trading on Tuesday, reaching $12.03. The company had a trading volume of 1,107,740 shares, compared to its average volume of 10,170,815. The firm's fifty day moving average is $11.47 and its 200 day moving average is $11.15. The firm has a market capitalization of $8.07 billion, a PE ratio of -1.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Paramount Global has a twelve month low of $9.54 and a twelve month high of $13.05. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same period in the prior year, the business posted $0.62 EPS. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts forecast that Paramount Global will post 1.77 EPS 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.