1,060,810 Shares in Paramount Global (NASDAQ:PARA) Purchased by Woodline Partners LP

Woodline Partners LP acquired a new position in Paramount Global (NASDAQ:PARA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,060,810 shares of the company's stock, valued at approximately $11,096,000. Woodline Partners LP owned approximately 0.16% of Paramount Global at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PARA. Allworth Financial LP boosted its holdings in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after buying an additional 1,395 shares during the period. Ossiam boosted its holdings 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 buying an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global in the 4th quarter worth $31,000. Rakuten Securities Inc. boosted its holdings 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 buying an additional 2,019 shares during the period. Finally, Atlas Capital Advisors Inc. bought a new position in Paramount Global in the 4th quarter worth $35,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of NASDAQ PARA traded down $0.03 during mid-day trading on Wednesday, hitting $12.01. 1,630,337 shares of the company's stock traded hands, compared to its average volume of 8,653,711. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 1 year low of $9.54 and a 1 year high of $13.05. The company has a market capitalization of $8.05 billion, a P/E ratio of -1.46, a PEG ratio of 1.68 and a beta of 1.25. The company's 50-day moving average is $11.47 and its two-hundred day moving average is $11.16.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted 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. 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 for the quarter, compared to analyst estimates of $7.14 billion. During the same period in the prior year, the company posted $0.62 EPS. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. UBS Group decreased their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Guggenheim reiterated a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a research report on Wednesday, April 2nd. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.50.

Paramount Global Company Profile

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.