GAMMA Investing LLC Boosts Holdings in Paramount Global (NASDAQ:PARAA)

GAMMA Investing LLC raised its position in shares of Paramount Global (NASDAQ:PARAA - Free Report) by 4,605.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,727 shares of the company's stock after buying an additional 22,244 shares during the period. GAMMA Investing LLC's holdings in Paramount Global were worth $517,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PARAA. State of Wyoming increased its position in Paramount Global by 97.9% during the 4th quarter. State of Wyoming now owns 4,788 shares of the company's stock valued at $107,000 after purchasing an additional 2,369 shares during the period. Mariner LLC increased its stake in shares of Paramount Global by 10.0% in the 4th quarter. Mariner LLC now owns 15,657 shares of the company's stock worth $349,000 after acquiring an additional 1,425 shares in the last quarter. Northern Trust Corp increased its stake in shares of Paramount Global by 98.1% in the 4th quarter. Northern Trust Corp now owns 35,264 shares of the company's stock worth $786,000 after acquiring an additional 17,461 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Paramount Global by 6.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 38,500 shares of the company's stock worth $876,000 after acquiring an additional 2,500 shares in the last quarter. Finally, AQR Arbitrage LLC bought a new position in shares of Paramount Global in the 4th quarter worth about $1,335,000. Hedge funds and other institutional investors own 5.98% of the company's stock.

Paramount Global Stock Performance

Shares of NASDAQ PARAA traded down $0.17 during trading on Monday, reaching $22.83. 12,912 shares of the company traded hands, compared to its average volume of 42,188. The firm has a 50 day simple moving average of $22.58 and a 200-day simple moving average of $22.61. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $15.39 billion, a PE ratio of -2.77 and a beta of 1.31. Paramount Global has a 52-week low of $16.87 and a 52-week high of $24.50.

Paramount Global (NASDAQ:PARAA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.10). Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The business had revenue of $7.19 billion during the quarter, compared to analysts' expectations of $7.14 billion. Equities research analysts anticipate that Paramount Global will post 2.25 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, June 16th. Paramount Global's dividend payout ratio 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.