Voloridge Investment Management LLC bought a new position in Paramount Global (NASDAQ:PARA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 543,745 shares of the company's stock, valued at approximately $5,688,000. Voloridge Investment Management LLC owned approximately 0.08% of Paramount Global at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Contrarius Group Holdings Ltd bought a new stake in shares of Paramount Global in the fourth quarter worth $146,230,000. Norges Bank bought a new stake in shares of Paramount Global in the fourth quarter worth $45,202,000. Slate Path Capital LP grew its holdings in shares of Paramount Global by 42.3% in the fourth quarter. Slate Path Capital LP now owns 12,586,000 shares of the company's stock worth $131,650,000 after acquiring an additional 3,741,000 shares during the period. Two Sigma Investments LP bought a new stake in shares of Paramount Global in the fourth quarter worth $21,229,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Paramount Global in the fourth quarter worth $20,292,000. Institutional investors own 73.00% of the company's stock.
Paramount Global Price Performance
Shares of NASDAQ PARA remained flat at $12.18 during mid-day trading on Friday. The stock had a trading volume of 9,096,232 shares, compared to its average volume of 10,067,721. The company has a market cap of $8.17 billion, a price-to-earnings ratio of -1.48, a PEG ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm's 50 day simple moving average is $11.50 and its two-hundred day simple moving average is $11.17. Paramount Global has a 1 year low of $9.54 and a 1 year high of $13.05.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. Analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts recently commented on PARA shares. Benchmark cut their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft lowered 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. UBS Group cut their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Citigroup reissued a "neutral" rating and set a $12.00 price target (down previously from $13.00) on shares of Paramount Global in a report on Thursday. Finally, Guggenheim reissued a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $11.54.
Check Out Our Latest Stock Analysis on PARA
About Paramount Global
(
Free Report)
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.
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