US Bancorp DE Purchases New Shares in Paramount Global (NASDAQ:PARA)

US Bancorp DE acquired a new stake in shares of Paramount Global (NASDAQ:PARAGet Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 49,894 shares of the company’s stock, valued at approximately $950,000.

Other hedge funds have also bought and sold shares of the company. Versor Investments LP bought a new position in Paramount Global during the third quarter valued at $1,850,000. Albert D Mason Inc. bought a new position in shares of Paramount Global in the third quarter worth about $622,000. Sargent Bickham Lagudis LLC bought a new position in shares of Paramount Global in the third quarter worth about $36,000. Handelsbanken Fonder AB bought a new position in shares of Paramount Global in the third quarter worth about $2,157,000. Finally, Xponance Inc. bought a new position in shares of Paramount Global in the third quarter worth about $1,172,000. Institutional investors own 74.13% of the company’s stock.

Paramount Global Stock Performance

PARA stock opened at $19.57 on Friday. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 4.16, a PEG ratio of 1.22 and a beta of 1.51. The firm has a 50-day simple moving average of $18.65 and a two-hundred day simple moving average of $21.01. Paramount Global has a one year low of $15.29 and a one year high of $39.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.31.

Paramount Global (NASDAQ:PARAGet Rating) last issued its quarterly earnings results 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 business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.05 billion. Paramount Global had a return on equity of 5.55% and a net margin of 10.46%. On average, equities analysts forecast that Paramount Global will post 1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research analyst reports. Guggenheim upped their price target on shares of Paramount Global from $20.00 to $22.00 in a report on Thursday, January 12th. Wells Fargo & Company cut shares of Paramount Global from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $19.00 to $13.00 in a report on Monday, October 31st. Rosenblatt Securities cut their price target on shares of Paramount Global from $15.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, November 3rd. Benchmark cut their price target on shares of Paramount Global from $47.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Paramount Global from $32.00 to $28.00 in a report on Friday, November 4th. Nine equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.68.

Paramount Global Company Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.

See Also

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

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