Czech National Bank Buys New Stake in Paramount Global (NASDAQ:PARA)

Czech National Bank bought a new stake in Paramount Global (NASDAQ:PARAGet Rating) during the third quarter, according to its most recent filing with the SEC. The firm bought 58,684 shares of the company’s stock, valued at approximately $1,117,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PARA. Money Concepts Capital Corp acquired a new position in Paramount Global in the 3rd quarter valued at $25,000. Lowe Wealth Advisors LLC acquired a new stake in Paramount Global in the 3rd quarter worth $29,000. Islay Capital Management LLC acquired a new stake in Paramount Global in the 3rd quarter worth $29,000. Sargent Bickham Lagudis LLC acquired a new stake in Paramount Global in the 3rd quarter worth $36,000. Finally, JFS Wealth Advisors LLC acquired a new stake in Paramount Global in the 3rd quarter worth $42,000. 74.13% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Trading Down 0.8 %

PARA opened at $20.06 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $13.02 billion, a PE ratio of 4.27, a PEG ratio of 1.20 and a beta of 1.51. Paramount Global has a 1-year low of $15.29 and a 1-year high of $39.21. The firm has a 50-day moving average price of $18.34 and a two-hundred day moving average price of $21.12.

Paramount Global (NASDAQ:PARAGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.05 billion. Paramount Global had a net margin of 10.46% and a return on equity of 5.55%. As a group, equities analysts anticipate that Paramount Global will post 1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PARA. Bank of America decreased their price target on shares of Paramount Global from $28.00 to $19.00 in a research report on Tuesday, October 11th. Credit Suisse Group decreased their price target on shares of Paramount Global from $31.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 12th. Macquarie decreased their price target on shares of Paramount Global from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 4th. Benchmark reduced their price objective on shares of Paramount Global from $47.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Paramount Global from $32.00 to $28.00 in a report on Friday, November 4th. Nine investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.68.

Paramount Global Profile

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Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Showtime, BET, Nickelodeon, MTV, Comedy Central, Paramount Network, Smithsonian Channel, and CBS Sports Network.

See Also

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

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