5 Warren Buffett Stocks That Are On Sale Now

2. Paramount Global (NASDAQ:PARA)

Number of Hedge Fund Holders: 39
Year to date loss: 36%

Paramount Global (NASDAQ:PARA) is a media and entertainment company that operates TV media, direct-to-consumer, and Filmed Entertainment segments. The company’s TV media segment operates domestic and international broadcast networks.

Buffett invested about $2.6 billion in the first quarter of 2022 for a stake of nearly 15%. The stock would be boosted after the billionaire investors upped his stake in the company to more than 91 million shares.

His investment has turned out to be a big disappointment as the stock dropped from about $19 a share when Buffett invested to about $12. The stock has also underperformed the market, down by about 36% year to date.

Mr. Buffett’s investment firm owned a $1.49 billion stake in Paramount Global (NASDAQ:PARA) during Q2 2023, making it the largest hedge fund investor. Including Berkshire, 39 of the 910 hedge funds part of Insider Monkey’s database had also invested in the firm during the same time period, compared to 34 funds in the previous quarter.

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