AQR Arbitrage LLC Invests $1.34 Million in Paramount Global (NASDAQ:PARAA)

AQR Arbitrage LLC purchased a new position in Paramount Global (NASDAQ:PARAA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 59,877 shares of the company's stock, valued at approximately $1,335,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mariner LLC boosted its holdings in shares of Paramount Global by 10.0% during the fourth quarter. Mariner LLC now owns 15,657 shares of the company's stock worth $349,000 after purchasing an additional 1,425 shares during the period. Northern Trust Corp raised its position in shares of Paramount Global by 98.1% in the fourth quarter. Northern Trust Corp now owns 35,264 shares of the company's stock valued at $786,000 after purchasing an additional 17,461 shares during the period. Guardian Investment Management acquired a new position in Paramount Global during the 4th quarter valued at $963,000. State Street Corp boosted its position in Paramount Global by 20.2% in the third quarter. State Street Corp now owns 49,366 shares of the company's stock valued at $1,082,000 after buying an additional 8,287 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Paramount Global by 450.7% during the fourth quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company's stock worth $2,784,000 after buying an additional 102,165 shares in the last quarter. 5.98% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Price Performance

Shares of Paramount Global stock traded down $0.06 during trading on Wednesday, reaching $22.54. The company's stock had a trading volume of 2,220 shares, compared to its average volume of 47,840. The stock has a 50-day moving average price of $22.62 and a two-hundred day moving average price of $22.54. The stock has a market capitalization of $15.12 billion, a P/E ratio of -2.74 and a beta of 1.39. Paramount Global has a one year low of $16.59 and a one year high of $24.50. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARAA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.27). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. As a group, sell-side analysts anticipate that Paramount Global will post 2.25 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.

About Paramount Global

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.