Millennium Management LLC Boosts Stock Holdings in Paramount Global (NASDAQ:PARAA)

Millennium Management LLC increased its stake in Paramount Global (NASDAQ:PARAA - Free Report) by 41.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,283 shares of the company's stock after purchasing an additional 67,177 shares during the period. Millennium Management LLC's holdings in Paramount Global were worth $5,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. AQR Arbitrage LLC purchased a new stake in Paramount Global during the 4th quarter valued at about $1,335,000. Northern Trust Corp raised its stake 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 worth $786,000 after purchasing an additional 17,461 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Paramount Global by 1,152.0% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 125,200 shares of the company's stock worth $2,792,000 after purchasing an additional 115,200 shares during the period. Gamco Investors INC. ET AL boosted its position in Paramount Global by 0.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,718,711 shares of the company's stock valued at $60,627,000 after buying an additional 25,444 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in Paramount Global by 1.4% in the fourth quarter. Gabelli Funds LLC now owns 1,833,583 shares of the company's stock valued at $40,889,000 after buying an additional 24,592 shares during the last quarter. 5.98% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Performance

PARAA traded down $0.06 during trading on Friday, reaching $22.56. 9,381 shares of the company's stock were exchanged, compared to its average volume of 45,579. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 1 year low of $16.59 and a 1 year high of $24.50. The company's fifty day simple moving average is $22.61 and its 200-day simple moving average is $22.63. The stock has a market capitalization of $15.21 billion, a P/E ratio of -2.74 and a beta of 1.39.

Paramount Global (NASDAQ:PARAA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.10). The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. As a group, research analysts predict that Paramount Global will post 2.25 earnings per share for the current fiscal year.

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.