Poehling Capital Management INC. Sells 198,744 Shares of Paramount Global (NASDAQ:PARAA)

Poehling Capital Management INC. reduced its holdings in shares of Paramount Global (NASDAQ:PARAA - Free Report) by 46.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 224,956 shares of the company's stock after selling 198,744 shares during the period. Paramount Global comprises 1.2% of Poehling Capital Management INC.'s portfolio, making the stock its 22nd largest holding. Poehling Capital Management INC.'s holdings in Paramount Global were worth $5,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Wyoming grew its stake in Paramount Global by 97.9% during the fourth quarter. State of Wyoming now owns 4,788 shares of the company's stock valued at $107,000 after acquiring an additional 2,369 shares in the last quarter. Mariner LLC lifted its position in Paramount Global by 10.0% during the fourth quarter. Mariner LLC now owns 15,657 shares of the company's stock valued at $349,000 after purchasing an additional 1,425 shares during the last quarter. Northern Trust Corp lifted its position in Paramount Global by 98.1% during 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 last quarter. AQR Arbitrage LLC bought a new position in Paramount Global during the fourth quarter valued at $1,335,000. Finally, Bank of New York Mellon Corp lifted its position in 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 valued at $2,784,000 after purchasing an additional 102,165 shares during the last quarter. 5.98% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

PARAA stock traded down $0.21 during trading on Tuesday, hitting $22.50. 6,085 shares of the company's stock traded hands, compared to its average volume of 46,148. The business has a fifty day simple moving average of $22.61 and a 200 day simple moving average of $22.62. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of -2.75 and a beta of 1.39. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 52 week low of $16.59 and a 52 week high of $24.50.

Paramount Global (NASDAQ:PARAA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.10). The firm had revenue of $7.19 billion during the quarter, compared to the consensus estimate 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 expect that Paramount Global will post 2.25 EPS for the current fiscal year.

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.