Fifth Third Bancorp Has $184,000 Holdings in Paramount Global (NASDAQ:PARA)

Fifth Third Bancorp decreased its position in shares of Paramount Global (NASDAQ:PARA) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,593 shares of the company’s stock after selling 5,052 shares during the period. Fifth Third Bancorp’s holdings in Paramount Global were worth $184,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. Bridgewater Associates LP boosted its position in shares of Paramount Global by 50.7% in the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after acquiring an additional 110,357 shares during the period. Franklin Resources Inc. grew its stake in shares of Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after acquiring an additional 174,514 shares during the last quarter. Principal Financial Group Inc. increased its position in Paramount Global by 22.3% during the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock worth $7,258,000 after acquiring an additional 124,740 shares during the period. Finally, HBK Investments L P acquired a new position in Paramount Global during the 3rd quarter valued at $5,098,000. 73.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PARA. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Macquarie reissued an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.50.

Paramount Global Trading Down 0.9 %

Shares of PARA stock opened at $10.88 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $7.26 billion, a P/E ratio of -1.32, a P/E/G ratio of 1.62 and a beta of 1.70. Paramount Global has a 12-month low of $9.54 and a 12-month high of $15.70. The firm has a 50-day moving average price of $10.75 and a 200 day moving average price of $10.75.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the previous year, the business earned $0.30 EPS. Paramount Global’s revenue was down 5.6% compared to the same quarter last year. Research analysts forecast that Paramount Global will post 1.78 earnings per share for the current fiscal year.

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.