Quadrature Capital Ltd Raises Stake in Paramount Global (NASDAQ:PARA)

Quadrature Capital Ltd increased its stake in Paramount Global (NASDAQ:PARA) by 136.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,644 shares of the company’s stock after purchasing an additional 139,478 shares during the quarter. Quadrature Capital Ltd’s holdings in Paramount Global were worth $2,844,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Altfest L J & Co. Inc. purchased a new stake in shares of Paramount Global during the 4th quarter worth approximately $158,000. Clear Harbor Asset Management LLC acquired a new stake in Paramount Global in the fourth quarter valued at $149,000. Global Retirement Partners LLC increased its position in shares of Paramount Global by 52.7% in the fourth quarter. Global Retirement Partners LLC now owns 4,872 shares of the company’s stock valued at $72,000 after buying an additional 1,682 shares in the last quarter. Caprock Group LLC raised its stake in shares of Paramount Global by 2.9% during the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock worth $746,000 after buying an additional 1,401 shares during the last quarter. Finally, Wilsey Asset Management Inc. boosted its position in shares of Paramount Global by 3.2% in the 4th quarter. Wilsey Asset Management Inc. now owns 895,460 shares of the company’s stock worth $13,244,000 after buying an additional 27,888 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PARA. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Evercore ISI cut their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating 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 report on Tuesday, April 30th. 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 report on Thursday, April 4th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Tuesday, June 4th. Eleven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.83.

Paramount Global Trading Down 2.4 %

Paramount Global stock traded down $0.27 during midday trading on Friday, reaching $11.19. The stock had a trading volume of 9,816,133 shares, compared to its average volume of 13,756,763. The stock has a market capitalization of $7.46 billion, a PE ratio of -74.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.78. 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 stock’s 50-day simple moving average is $11.30 and its 200 day simple moving average is $11.93. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50.

Paramount Global (NASDAQ:PARA) last issued its earnings results 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 business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that Paramount Global will post 1.34 EPS for the current year.

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.