New Mexico Educational Retirement Board Grows Stock Holdings in Paramount Global (NASDAQ:PARA)

New Mexico Educational Retirement Board boosted its stake in shares of Paramount Global (NASDAQ:PARA) by 17.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,399 shares of the company’s stock after buying an additional 4,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Paramount Global were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank boosted its position in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Paramount Global in the third quarter valued at $47,000. FNY Investment Advisers LLC increased its position 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 valued at $75,000 after buying an additional 3,654 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in shares of Paramount Global during the 4th quarter worth $88,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Up 0.1 %

Shares of PARA opened at $11.31 on Wednesday. The firm has a market cap of $7.54 billion, a PE ratio of -1.38, a price-to-earnings-growth ratio of 1.59 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. The company’s fifty day moving average is $10.74 and its two-hundred day moving average is $10.69. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54.

Analysts Set New Price Targets

PARA has been the subject of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Macquarie restated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Morgan Stanley upped their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Six 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 stock. According to data from MarketBeat, Paramount Global has a consensus rating of “Hold” and a consensus price target 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.