The unanimous buying cluster (zero sellers) by active managers and a quant suggests a shared thesis on Paramount's value, possibly tied to restructuring, streaming profitability, or M&A speculation. However, the 45-day 13F reporting lag means these positions reflect end-of-September views. Monitor next 13F for continuation or exit, and watch for any 8-K filings (restructuring, strategic alternatives) that could confirm the thesis.
Executive Summary
Seven institutional investors independently added to their PARAA positions in Q3 2024, with zero sellers, resulting in $1.2M net buying and $2.3M in total holdings. The cluster is unanimous bullish, led by STRS Ohio (adding $796K) and Legal & General (doubling a small position). This contrasts sharply with the analyst consensus, which is 92% non-bullish (mostly Hold/Sell), suggesting a contrarian bet on a potential turnaround or M&A catalyst at the struggling media conglomerate.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.2M
▲ Buyers (7)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Cwm | ADD | +45.9% | $3.00 | $1.00 |
| Citadel Advisors | ADD | +44.4% | $358.0K | $149.0K |
| PNC Financial Services Group | ADD | +77.1% | $77.0K | $41.0K |
| Marshall Wace | ADD | +35.8% | $320.0K | $122.0K |
| Assetmark | ADD | +40% | $306.00 | $122.00 |
| STRS Ohio | ADD | +90.9% | $1.4M | $796.0K |
| Legal & General Group | DOUBLED | +1142.9% | $148.0K | $138.0K |
Key Facts
- Cluster date: Q3 2024 (13F with 45-day lag)
- 7 institutions all buying (0 selling), $2.3M total current holdings, $1.2M net increase
- Largest buyer by dollar amount: STRS Ohio added $796K (90.9% increase to $1.4M)
- Legal & General Group DOUBLED its position (+1,143% shares), from $10K to $148K
- Citadel Advisors (quant) added $149K, holdings now $358K
- Marshall Wace added $122K, holdings now $320K
- PNC Financial Services added $41K, holdings now $77K
- Consensus (8% bullish) heavily skewed Hold/Sell — cluster is strongly contrarian
Financial Impact
7 institutions accumulated $1.2M net in PARAA during Q3 2024 (total holdings $2.3M). Top three: STRS Ohio +$796K, Citadel +$149K, Legal & General +$138K.
Risk Factors
- 13F data is stale by 45+ days; some positions may have been reversed
- Analyst consensus is heavily non-bullish (92% Hold/Sell/Strong Sell)
- Paramount faces secular decline in linear TV and streaming losses
- Aggregate $2.3M holdings are de minimis relative to funds' AUM — may be small exploratory stakes
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-PARAA-2024-Q3 |
US Market Status
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