Rockingstone Advisors LLC bought a new position in shares of Paramount Global (NASDAQ:PARA – Free Report) during the second quarter, Holdings Channel reports. The fund bought 19,875 shares of the company’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Paramount Global by 54.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 207,305 shares of the company’s stock worth $3,066,000 after buying an additional 73,112 shares during the period. Cerity Partners LLC acquired a new position in Paramount Global during the fourth quarter valued at $1,402,000. Koshinski Asset Management Inc. purchased a new stake in Paramount Global in the 4th quarter worth about $154,000. Louisiana State Employees Retirement System acquired a new stake in Paramount Global during the 4th quarter worth about $432,000. Finally, Cullen Investment Group LTD. purchased a new position in Paramount Global during the 4th quarter valued at about $1,188,000. Institutional investors and hedge funds own 73.00% of the company’s stock.
Paramount Global Stock Performance
PARA traded up $0.04 during midday trading on Friday, reaching $11.00. The company’s stock had a trading volume of 9,838,162 shares, compared to its average volume of 17,559,957. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $10.92 and a 200 day simple moving average of $11.67. The stock has a market cap of $7.33 billion, a P/E ratio of -73.33, a PEG ratio of 0.59 and a beta of 1.78. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50.
Paramount Global Announces Dividend
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on PARA shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Paramount Global in a research report on Tuesday, June 4th. JPMorgan Chase & Co. lowered their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Eleven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.47.
Read Our Latest Research Report on Paramount Global
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.
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