Exchange Traded Concepts LLC Buys 87,817 Shares of Paramount Global (NASDAQ:PARA)

Exchange Traded Concepts LLC raised its stake in Paramount Global (NASDAQ:PARAFree Report) by 383.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 110,743 shares of the company’s stock after buying an additional 87,817 shares during the period. Exchange Traded Concepts LLC’s holdings in Paramount Global were worth $1,158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PARA. State Street Corp increased its position in Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the period. Geode Capital Management LLC increased its position in Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after buying an additional 1,606,779 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Paramount Global by 602.8% in the second quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock valued at $18,530,000 after purchasing an additional 1,529,719 shares during the period. Finally, Swiss National Bank raised its position in Paramount Global by 12.6% during the 3rd quarter. Swiss National Bank now owns 1,765,188 shares of the company’s stock worth $18,746,000 after buying an additional 197,300 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Up 0.8 %

Shares of NASDAQ:PARA opened at $11.16 on Tuesday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $15.70. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of -1.36, a PEG ratio of 1.53 and a beta of 1.70. The business has a 50-day moving average price of $10.73 and a 200 day moving average price of $10.75. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARAGet Free Report) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. 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 business earned $0.30 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Paramount Global will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PARA shares. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Macquarie reiterated an “underperform” rating and set a $10.00 price objective 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. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Read Our Latest Research Report on PARA

Paramount Global Profile

(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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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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