Paramount Global (NASDAQ:PARA) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its position in shares of Paramount Global (NASDAQ:PARA) by 74.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,842 shares of the company’s stock after purchasing an additional 4,611 shares during the period. GAMMA Investing LLC’s holdings in Paramount Global were worth $113,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Lingotto Investment Management LLP lifted its stake in Paramount Global by 628.8% during the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after purchasing an additional 25,829,185 shares in the last quarter. Geode Capital Management LLC lifted its stake in Paramount Global by 12.1% during the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after purchasing an additional 1,606,779 shares in the last quarter. Ariel Investments LLC lifted its stake in Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after purchasing an additional 1,992,576 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Paramount Global by 16.2% during the third 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 in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PARA. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Guggenheim reduced their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.38.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.48 on Friday. The business’s fifty day moving average price is $10.87 and its 200 day moving average price is $10.78. The firm has a market capitalization of $6.99 billion, a PE ratio of -1.27, a price-to-earnings-growth ratio of 1.35 and a beta of 1.70. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. 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 (NASDAQ:PARA) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 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 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. On average, sell-side analysts anticipate that Paramount Global will post 1.86 earnings per share 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.