Paramount Global stock has seen
significant fluctuations in recent times and varied investor sentiment. Despite
falling 26-29% YTD and occasional underperformance against competitors, the stock has shown
strong trading days and was upgraded to a buy rating with a price target set at $13.
Major institutional investors, like
HBK Investments L.P, Charles Schwab Investment Management Inc., and
Landscape Capital Management L.L.C., have invested millions in Paramount Global. However, investment companies like
Loomis Sayles & Co. L P and
Oppenheimer & Co. Inc. are making significant reductions in their holdings.
Paramount Global's
Q3 earnings surpassed estimates, and the company's streaming division reported growth and cost savings. Still, the company's linear TV and studio operations are under pressure, causing revenue struggles.
Despite facing lawsuits and a buyout bid drop,
Paramount's streaming operations are improving, as the company reduces its cable networks value and cuts jobs. It's also focusing on profitability and slated to beat earnings estimates in its next report. Finally,
State Street Corp made a strategic acquisition of Paramount Global shares. The company even declared a quarterly cash dividend and sold a stake in Viacom 18 for $508 million.
Paramount Global Stocks News Analytics from Mon, 17 Jun 2024 07:00:00 GMT to Sat, 30 Nov 2024 20:04:34 GMT -
Rating -3
- Innovation -2
- Information 7
- Rumor -4
