5 Value Stocks To Buy Today According To Mario Gabelli

3. Paramount Global (NASDAQ:PARA)

Number of Hedge Fund Holders: 40

P/E Ratio as of June 14: 4.17

Paramount Global (NASDAQ:PARA) is an American multinational mass media and entertainment conglomerate owned and operated by National Amusements. Citi analyst Jason Bazinet lowered his price target on Paramount Global (NASDAQ:PARA) to $44 from $47 and kept a Buy rating on the shares following the company’s Q1 results this May. The analyst continues to value Paramount Global (NASDAQ:PARA) on a sum-of-the-parts basis.

On May 3, Paramount Global (NASDAQ:PARA) released its earnings report for the fiscal first quarter of 2022, with earnings per share of $0.60 surpassing market estimates by $0.08. On the other hand, revenue for the quarter fell short of estimates by $57.96 million.

Out of the 912 elite hedge funds tracked by Insider Monkey in the first quarter of 2022, 40 were long Paramount Global (NASDAQ:PARA) with stakes worth $3.41 billion. This is compared to 64 funds in the preceding quarter, with stakes amounting to over $1 billion. Michael Weinstock’s Monarch Alternative Capital is one of the leading stakeholders in Paramount Global (NASDAQ:PARA), with over 12.2 million stakes worth approximately $133 million.