14,047 Shares in Paramount Global (NASDAQ:PARA) Acquired by Pitcairn Co.

Pitcairn Co. bought a new position in shares of Paramount Global (NASDAQ:PARA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,047 shares of the company’s stock, valued at approximately $165,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Paramount Global by 6.5% during the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after purchasing an additional 3,803,928 shares during the last quarter. Kodai Capital Management LP acquired a new stake in shares of Paramount Global in the fourth quarter valued at approximately $84,842,000. Lingotto Investment Management LLP boosted its holdings in shares of Paramount Global by 375.8% in the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock valued at $48,388,000 after acquiring an additional 2,577,978 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in shares of Paramount Global in the first quarter valued at approximately $33,191,000. Finally, Norges Bank acquired a new stake in shares of Paramount Global in the fourth quarter valued at approximately $41,497,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

PARA stock opened at $11.51 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The stock’s 50 day moving average is $11.32 and its two-hundred day moving average is $11.97. The company has a market capitalization of $7.67 billion, a PE ratio of -76.39, a P/E/G ratio of 0.77 and a beta of 1.78.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, beating 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 business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. During the same period in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts predict that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PARA has been the subject of several research analyst reports. Argus downgraded Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Wolfe Research cut Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective for the company. in a research report on Tuesday, July 9th. Needham & Company LLC cut Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Seaport Res Ptn cut Paramount Global from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Eleven analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.83.

Paramount Global Company 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.