Kestra Private Wealth Services LLC Has $1.18 Million Holdings in Paramount Global (NASDAQ:PARA)

Kestra Private Wealth Services LLC cut its position in Paramount Global (NASDAQ:PARA) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,927 shares of the company’s stock after selling 6,717 shares during the period. Kestra Private Wealth Services LLC’s holdings in Paramount Global were worth $1,181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PARA. Sanctuary Advisors LLC acquired a new position in Paramount Global in the second quarter valued at about $229,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Paramount Global by 518.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after purchasing an additional 4,100 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Paramount Global during the third quarter worth approximately $243,000. Avaii Wealth Management LLC lifted its position in shares of Paramount Global by 11.5% during the third quarter. Avaii Wealth Management LLC now owns 22,762 shares of the company’s stock worth $242,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC lifted its position in shares of Paramount Global by 8.0% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 48,922 shares of the company’s stock worth $520,000 after purchasing an additional 3,627 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Up 1.6 %

Shares of NASDAQ:PARA opened at $10.81 on Friday. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $7.21 billion, a PE ratio of -1.32, a PEG ratio of 1.59 and a beta of 1.69. The company has a 50 day moving average price of $10.73 and a two-hundred day moving average price of $10.69.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PARA shares. Morgan Stanley upped their target price 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 report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, 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. Six 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.58.

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.