Investing in Paramount Global [PARA]: What You Must Know

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Paramount Global’s recently made public that its Director NATIONAL AMUSEMENTS INC /MD/ acquired Company’s shares for reported $20.94 million on May 17. In the deal valued at $32.37 per share,646,764 shares were bought. As a result of this transaction, NATIONAL AMUSEMENTS INC /MD/ now holds 32,012,190 shares worth roughly $ 666.81 million.

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Loop Capital downgraded its Paramount Global [PARA] rating to a Sell from a a Hold in a research note published on Tuesday, December 23, 2022; the price target was decreased to $14 from $30. PT values the company’s stock at a premium of -48.79 to its Tuesday closing price. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in late October from “an Equal weight” to “an Underweight”. Wells Fargo also remained covering PARA and has decreased its forecast on October 04, 2022 with a “an Equal weight” recommendation from previously “an Overweight” rating. JP Morgan revised its rating on August 05, 2022. It rated PARA as “an Underweight” which previously was an “a Neutral”.

Price Performance Review of PARA

On Tuesday, Paramount Global [NASDAQ:PARA] saw its stock fall -1.56% to $20.83. On the same session, the stock had its day’s lowest price of $20.82, but rose to a high of $21.2625. Over the last five days, the stock has gained 0.92%. Paramount Global shares have risen nearly 23.40% since the year began. Nevertheless, the stocks have fallen -33.34% over the past one year. While a 52-week high of $39.21 was reached on 01/23/23, a 52-week low of $15.29 was recorded on 01/03/23. SMA at 50 days reached $18.76, while 200 days put it at $23.66.

Levels Of Support And Resistance For PARA Stock

The 24-hour chart illustrates a support level at 20.68, which if violated will result in even more drops to 20.53. On the upside, there is a resistance level at 21.12. A further resistance level may holdings at 21.41. The Relative Strength Index (RSI) on the 14-day chart is 63.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.87, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 10.87%. Stochastics %K at 90.56% indicates the stock is a selling.

How much short interest is there in Paramount Global?

A steep rise in short interest was recorded in Paramount Global stocks on Oct 13, 2022, growing by 2.19 million shares to a total of 67.74 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 65.55 million shares. There was a rise of 3.23%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.76% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.28.

Paramount Global [PARA] – Who Are The Largest Shareholders?

In filings from Berkshire Hathaway, Inc., it is revealed that the company now owns 91,216,510 shares, or roughly 14.99% of the outstanding PARA shares. In other words, the investor’s shares have risen by 12,794,865 from its previous 13-F filing of 78421645.0. Additionally, The Vanguard Group, Inc. decreased -9.15% of its stake after which the total value it holdings stand at $932,804,515, while SSgA Funds Management, Inc. added 4.03% of its stake to hold $553.87 million in the firm. Over the last quarter, BlackRock Fund Advisors sold -2,549,783 shares of Paramount Global, while Charles Schwab Investment Managem sold 655,257 shares. At present, Susquehanna Financial Group LLLP is holding 11,284,911 shares valued at $190.49 million. Geode Capital Management LLC owned 11,272,684 shares of the company at the time of its most recent 13F filing, worth $190.28 million.

According to FactSet, Paramount Global’s share price will average $18.89 in the next year, based on opinions of analysts polled by the firm. This is down nearly -17.3 percent from its previous closing price of $21.16. Analysts expect Paramount Global stock to reach the higher price of $32.00, while the lowest price estimate is $11.00. However, 28 analysts have rated PARA stock as a Hold in their predictions for 2023.

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