FNY Investment Advisers LLC Purchases 3,654 Shares of Paramount Global (NASDAQ:PARA)

FNY Investment Advisers LLC increased its position in Paramount Global (NASDAQ:PARA) by 102.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,224 shares of the company’s stock after buying an additional 3,654 shares during the quarter. FNY Investment Advisers LLC’s holdings in Paramount Global were worth $75,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PARA. Lingotto Investment Management LLP lifted its stake in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares in the last quarter. State Street Corp lifted its position in Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after acquiring an additional 6,848,037 shares in the last quarter. Ariel Investments LLC boosted its stake in Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after purchasing an additional 1,992,576 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 purchasing an additional 1,606,779 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Paramount Global by 602.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after purchasing an additional 1,529,719 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analysts Set New Price Targets

PARA has been the topic of several analyst reports. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim cut their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Macquarie restated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Six 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.50.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.44 on Thursday. The company has a market capitalization of $6.96 billion, a P/E ratio of -1.27, a P/E/G ratio of 1.35 and a beta of 1.70. The business has a fifty day simple moving average of $10.85 and a two-hundred day simple moving average of $10.80. 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 $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, beating the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, analysts expect that Paramount Global will post 1.86 earnings per share for the current 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.