Quadrature Capital Ltd Has $2.84 Million Stock Holdings in Paramount Global (NASDAQ:PARA)

Quadrature Capital Ltd boosted its stake in shares of Paramount Global (NASDAQ:PARA) by 136.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 241,644 shares of the company’s stock after buying an additional 139,478 shares during the period. Quadrature Capital Ltd’s holdings in Paramount Global were worth $2,844,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Archer Investment Corp acquired a new position in shares of Paramount Global during the 4th quarter worth about $30,000. Friedenthal Financial acquired a new stake in Paramount Global during the fourth quarter worth approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Paramount Global in the fourth quarter worth $44,000. SageView Advisory Group LLC bought a new position in Paramount Global in the 1st quarter valued at about $56,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Paramount Global in the fourth quarter valued at approximately $59,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Performance

Shares of Paramount Global stock traded down $0.27 on Friday, reaching $11.19. 9,816,133 shares of the company traded hands, compared to its average volume of 13,756,763. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The company has a 50 day moving average of $11.30 and a 200 day moving average of $11.93. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The firm has a market capitalization of $7.46 billion, a PE ratio of -74.60, a PEG ratio of 0.82 and a beta of 1.78.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.28. The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Equities analysts forecast that Paramount Global will post 1.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on PARA shares. Wolfe Research downgraded Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a research note on Tuesday, July 9th. Argus downgraded shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Needham & Company LLC downgraded Paramount Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Eleven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.83.

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.