Paramount Global (NASDAQ:PARAA) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC boosted its stake in Paramount Global (NASDAQ:PARAA - Free Report) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,833,583 shares of the company's stock after acquiring an additional 24,592 shares during the period. Gabelli Funds LLC owned 0.27% of Paramount Global worth $40,889,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mariner LLC boosted its holdings in shares of Paramount Global by 10.0% in the 4th quarter. Mariner LLC now owns 15,657 shares of the company's stock valued at $349,000 after buying an additional 1,425 shares during the period. Guardian Investment Management bought a new stake in shares of Paramount Global in the 4th quarter worth approximately $963,000. State Street Corp grew its stake in Paramount Global by 20.2% during the 3rd quarter. State Street Corp now owns 49,366 shares of the company's stock worth $1,082,000 after buying an additional 8,287 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Paramount Global by 450.7% in 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 buying an additional 102,165 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Paramount Global by 16.7% during the third quarter. Geode Capital Management LLC now owns 247,015 shares of the company's stock valued at $5,400,000 after acquiring an additional 35,305 shares during the period. Institutional investors own 5.98% of the company's stock.

Paramount Global Stock Performance

NASDAQ:PARAA traded down $0.20 during mid-day trading on Friday, hitting $22.17. The stock had a trading volume of 37,666 shares, compared to its average volume of 51,179. Paramount Global has a 52 week low of $16.59 and a 52 week high of $26.34. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of -2.70 and a beta of 1.33. The company has a 50 day simple moving average of $22.67 and a 200-day simple moving average of $22.49.

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

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.90%. Paramount Global's dividend payout ratio is presently -2.15%.

Paramount Global 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.