Entropy Technologies LP Acquires 110,895 Shares of Paramount Global (NASDAQ:PARA)

Entropy Technologies LP increased its stake in shares of Paramount Global (NASDAQ:PARA) by 155.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,387 shares of the company’s stock after acquiring an additional 110,895 shares during the period. Entropy Technologies LP’s holdings in Paramount Global were worth $1,908,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of Paramount Global by 442.6% during the 4th quarter. Empowered Funds LLC now owns 58,253 shares of the company’s stock worth $609,000 after buying an additional 47,518 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in Paramount Global by 12.5% in the 4th quarter. Cidel Asset Management Inc. now owns 27,782 shares of the company’s stock valued at $291,000 after acquiring an additional 3,079 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Paramount Global by 46.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,830 shares of the company’s stock worth $726,000 after purchasing an additional 22,171 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Paramount Global by 7.5% during the fourth quarter. Yousif Capital Management LLC now owns 123,203 shares of the company’s stock worth $1,289,000 after buying an additional 8,629 shares in the last quarter. Finally, Mather Group LLC. raised its stake in Paramount Global by 42.3% in the 4th quarter. Mather Group LLC. now owns 8,959 shares of the company’s stock worth $94,000 after purchasing an additional 2,664 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Macquarie reiterated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley upped their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Six 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.58.

Paramount Global Stock Down 1.9 %

PARA stock opened at $10.63 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $10.70. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The company has a market cap of $7.09 billion, a P/E ratio of -1.29, a price-to-earnings-growth ratio of 1.59 and a beta of 1.69.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. On average, research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global 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.