Paramount Global (NASDAQ:PARA) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Paramount Global (NASDAQ:PARAFree Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,181,112 shares of the company’s stock after selling 11,055 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.18% of Paramount Global worth $13,902,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PARA. VisionPoint Advisory Group LLC purchased a new stake in shares of Paramount Global in the 3rd quarter valued at $25,000. Archer Investment Corp purchased a new stake in Paramount Global in the fourth quarter valued at $30,000. Anchor Investment Management LLC acquired a new stake in Paramount Global during the 4th quarter worth about $30,000. Friedenthal Financial acquired a new position in shares of Paramount Global in the 4th quarter valued at about $39,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Paramount Global in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PARA. Raymond James reissued a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Tuesday. Wolfe Research cut shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective for the company. in a report on Tuesday. Argus lowered shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. cut their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Eleven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.83.

Get Our Latest Stock Analysis on Paramount Global

Paramount Global Trading Up 3.1 %

Shares of Paramount Global stock opened at $11.53 on Wednesday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -76.86, a PEG ratio of 0.39 and a beta of 1.78. The stock has a 50 day moving average of $11.61 and a 200 day moving average of $12.20.

Paramount Global (NASDAQ:PARAGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. During the same period last year, the company earned $0.09 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, research analysts predict that Paramount Global will post 1.31 earnings per share for the current year.

Paramount Global Profile

(Free Report)

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 ChilevisiĆ³n; 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.

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

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