Kestra Investment Management LLC Acquires Shares of 16,772 Paramount Global (NASDAQ:PARA)

Kestra Investment Management LLC bought a new position in Paramount Global (NASDAQ:PARA) in the 4th quarter, Holdings Channel.com reports. The firm bought 16,772 shares of the company’s stock, valued at approximately $175,000.

Other large investors have also modified their holdings of the company. Allworth Financial LP grew its holdings in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. 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 last quarter. Huntington National Bank grew its stake in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Paramount Global during the third quarter worth about $47,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of Paramount Global by 102.4% in the fourth 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. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Up 0.3 %

NASDAQ PARA opened at $11.47 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a 50-day simple moving average of $10.74 and a 200-day simple moving average of $10.70. The firm has a market capitalization of $7.65 billion, a PE ratio of -1.40, a price-to-earnings-growth ratio of 1.66 and a beta of 1.69.

Wall Street Analyst Weigh In

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

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.