Entropy Technologies LP Has $759,000 Stake in Paramount Global (NASDAQ:PARA)

Entropy Technologies LP grew its holdings in Paramount Global (NASDAQ:PARA) by 28.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,492 shares of the company’s stock after buying an additional 15,900 shares during the period. Entropy Technologies LP’s holdings in Paramount Global were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Paramount Global by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock valued at $291,000 after buying an additional 934 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after purchasing an additional 1,002 shares during the last quarter. Carson Advisory Inc. lifted its holdings in Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after purchasing an additional 1,004 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in Paramount Global by 13.2% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after purchasing an additional 1,011 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Trading Up 1.7 %

Shares of PARA stock opened at $11.35 on Friday. The firm has a market capitalization of $7.57 billion, a P/E ratio of -1.38, a P/E/G ratio of 1.44 and a beta of 1.74. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. 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 stock’s fifty day simple moving average is $10.60 and its 200 day simple moving average is $11.09.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The firm 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 business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, sell-side analysts predict that Paramount Global will post 1.78 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is -2.43%.

Wall Street Analyst Weigh In

PARA has been the subject of several research reports. Macquarie reissued an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. dropped their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Eight analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and a consensus target price of $12.40.

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.