175,800 Shares in Paramount Global (NASDAQ:PARA) Bought by Two Sigma Advisers LP

Two Sigma Advisers LP acquired a new position in Paramount Global (NASDAQ:PARA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 175,800 shares of the company’s stock, valued at approximately $1,839,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Paramount Global by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock worth $80,993,000 after buying an additional 348,298 shares in the last quarter. Wilsey Asset Management Inc. raised its position in shares of Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after buying an additional 265,408 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Paramount Global by 24.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after buying an additional 908,515 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Paramount Global during the fourth quarter valued at about $5,457,000. Finally, Amundi raised its position in Paramount Global by 10.1% during the fourth quarter. Amundi now owns 1,655,784 shares of the company’s stock valued at $17,618,000 after purchasing an additional 152,026 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Up 0.7%

NASDAQ PARA opened at $12.18 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $8.17 billion, a PE ratio of -1.48, a PEG ratio of 1.68 and a beta of 1.25. Paramount Global has a 1 year low of $9.54 and a 1 year high of $13.05. The business’s 50-day moving average is $11.49 and its 200 day moving average is $11.17.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Paramount Global’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. Sell-side analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PARA shares. UBS Group lowered their price target on Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley lowered their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Citigroup restated a “neutral” rating and set a $12.00 price target (down previously from $13.00) on shares of Paramount Global in a research report on Thursday. Guggenheim restated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Wall Street Zen initiated coverage on Paramount Global in a research report on Saturday, May 17th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.54.

Paramount Global 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.