New York State Teachers Retirement System Lowers Stock Holdings in Paramount Global (NASDAQ:PARA)

New York State Teachers Retirement System trimmed its stake in Paramount Global (NASDAQ:PARA) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 468,255 shares of the company’s stock after selling 1,177 shares during the period. New York State Teachers Retirement System owned about 0.07% of Paramount Global worth $4,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after buying an additional 1,573 shares during the period. Huntington National Bank raised its stake in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Paramount Global during the 3rd quarter worth approximately $47,000. FNY Investment Advisers LLC raised its stake in shares of Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after acquiring an additional 3,654 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in Paramount Global during the 4th quarter valued at approximately $88,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Stock Performance

NASDAQ:PARA opened at $11.47 on Friday. The company’s 50-day moving average price is $10.74 and its 200-day moving average price is $10.70. 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 company has a market cap of $7.65 billion, a P/E ratio of -1.40, a P/E/G ratio of 1.66 and a beta of 1.69. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54.

Wall Street Analysts Forecast Growth

PARA has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reissued an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Paramount Global 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.