Stephens Inc. AR Reduces Stake in Paramount Global (NASDAQ:PARA)

Stephens Inc. AR reduced its position in Paramount Global (NASDAQ:PARA) by 24.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,865 shares of the company’s stock after selling 11,350 shares during the period. Stephens Inc. AR’s holdings in Paramount Global were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC lifted its position in Paramount Global by 12.1% during the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after purchasing an additional 1,606,779 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $78,533,000 after purchasing an additional 1,030,592 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in Paramount Global during the third quarter valued at $7,222,000. Finally, Alpine Associates Management Inc. purchased a new position in Paramount Global during the third quarter valued at $5,186,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Trading Up 4.5 %

Shares of PARA stock opened at $11.30 on Friday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average price is $10.73 and its 200-day moving average price is $10.69. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of -1.37, a price-to-earnings-growth ratio of 1.59 and a beta of 1.69.

Wall Street Analysts Forecast Growth

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

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.