Mirae Asset Global Investments Co. Ltd. Raises Holdings in Paramount Global (NASDAQ:PARA)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Paramount Global (NASDAQ:PARA) by 46.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,830 shares of the company’s stock after purchasing an additional 22,171 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Paramount Global were worth $726,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PARA. State Street Corp lifted its position in shares of Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC grew its holdings in Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after acquiring an additional 1,606,779 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares in the last quarter. Swiss National Bank boosted its position in shares of Paramount Global by 12.6% during the 3rd quarter. Swiss National Bank now owns 1,765,188 shares of the company’s stock worth $18,746,000 after acquiring an additional 197,300 shares in the last quarter. Finally, Metropolis Capital Ltd lifted its stake in Paramount Global by 6.1% during the third quarter. Metropolis Capital Ltd now owns 1,123,029 shares of the company’s stock worth $11,927,000 after purchasing an additional 64,681 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of PARA opened at $10.64 on Thursday. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $7.10 billion, a PE ratio of -1.29, a price-to-earnings-growth ratio of 1.59 and a beta of 1.69. The company’s fifty day moving average price is $10.73 and its 200 day moving average price is $10.69.

Wall Street Analysts Forecast Growth

PARA has been the topic of several research reports. Macquarie reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Morgan Stanley boosted their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average target price of $12.58.

About Paramount Global

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.