Entropy Technologies LP raised its stake in Paramount Global (NASDAQ:PARA - Free Report) by 155.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,387 shares of the company's stock after buying an additional 110,895 shares during the period. Entropy Technologies LP's holdings in Paramount Global were worth $1,908,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Carson Advisory Inc. grew its position in shares of Paramount Global by 1.9% in the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company's stock valued at $577,000 after purchasing an additional 1,004 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company's stock worth $977,000 after acquiring an additional 1,481 shares during the last quarter. Huntington National Bank boosted its position in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company's stock worth $29,000 after acquiring an additional 1,561 shares during the last quarter. Blue Trust Inc. boosted its position in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position in Paramount Global by 10.4% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company's stock worth $187,000 after acquiring an additional 1,663 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on PARA. Morgan Stanley raised their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 4th. Macquarie restated an "underperform" rating and set a $10.00 target price on shares of Paramount Global in a research 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, Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a report on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $12.58.
Check Out Our Latest Stock Analysis on PARA
Paramount Global Trading Up 1.6 %
Shares of PARA stock traded up $0.17 during mid-day trading on Thursday, reaching $10.81. The company's stock had a trading volume of 8,157,248 shares, compared to its average volume of 8,640,602. The company's 50 day simple moving average is $10.73 and its 200-day simple moving average is $10.69. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. 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 firm has a market capitalization of $7.21 billion, a PE ratio of -1.32, a price-to-earnings-growth ratio of 1.59 and a beta of 1.69.
About Paramount Global
(
Free Report)
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.
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