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

Entropy Technologies LP grew its stake in shares of Paramount Global (NASDAQ:PARA) by 28.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 71,492 shares of the company’s stock after purchasing an additional 15,900 shares during the period. Entropy Technologies LP’s holdings in Paramount Global were worth $759,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares during the period. Atlas Capital Advisors LLC bought a new stake in Paramount Global during the second quarter worth about $35,000. Ashton Thomas Private Wealth LLC bought a new stake in Paramount Global during the second quarter worth about $43,000. Kennebec Savings Bank bought a new stake in Paramount Global during the third quarter worth about $47,000. Finally, SageView Advisory Group LLC purchased a new position in shares of Paramount Global in the first quarter worth about $56,000. 73.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Guggenheim decreased their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $10.00 to $11.00 in a report on Friday, August 9th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.40.

Paramount Global Trading Up 1.7 %

Shares of PARA stock opened at $11.35 on Friday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. 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 firm has a market capitalization of $7.57 billion, a PE ratio of -1.38, a PEG ratio of 1.44 and a beta of 1.74. The stock has a fifty day simple moving average of $10.60 and a two-hundred day simple moving average of $11.09.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the prior year, the business posted $0.30 EPS. Paramount Global’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts predict that Paramount Global will post 1.78 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Paramount Global Company 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.