Paramount Global (NASDAQ:PARA) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of Paramount Global (NASDAQ:PARA) by 824.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 195,690 shares of the company’s stock after acquiring an additional 174,514 shares during the quarter. Franklin Resources Inc.’s holdings in Paramount Global were worth $2,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank boosted its stake in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the period. Atlas Capital Advisors LLC purchased a new position in Paramount Global during the 2nd quarter worth $35,000. Ashton Thomas Private Wealth LLC acquired a new position in Paramount Global in the second quarter valued at $43,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Paramount Global in the third quarter valued at about $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PARA. Guggenheim lowered their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie restated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Paramount Global presently has an average rating of “Hold” and a consensus target price of $12.43.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $10.44 on Friday. The company’s fifty day moving average is $10.84 and its two-hundred day moving average is $10.77. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $6.96 billion, a P/E ratio of -1.27, a PEG ratio of 1.35 and a beta of 1.71. Paramount Global has a one year low of $9.54 and a one year high of $15.70.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. Analysts forecast that Paramount Global will post 1.86 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.