Asset Management One Co. Ltd. Lowers Stock Holdings in Paramount Global (NASDAQ:PARA)

Asset Management One Co. Ltd. lowered its holdings in shares of Paramount Global (NASDAQ:PARA) by 92.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,177 shares of the company’s stock after selling 178,573 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Paramount Global were worth $147,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its holdings 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 valued at $470,695,000 after acquiring an additional 6,848,037 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 1,606,779 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Paramount Global by 16.2% in 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 during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Paramount Global in the third quarter valued at approximately $7,222,000. Finally, Alpine Associates Management Inc. acquired a new stake in shares of Paramount Global in the third quarter valued at approximately $5,186,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

PARA has been the subject of several recent research reports. Morgan Stanley increased 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. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Six 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.58.

Paramount Global Trading Up 0.2 %

PARA opened at $11.49 on Friday. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The business has a fifty day simple moving average of $10.75 and a 200-day simple moving average of $10.71. The firm has a market cap of $7.66 billion, a P/E ratio of -1.40, a P/E/G ratio of 1.68 and a beta of 1.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global 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.