Gamco Investors INC. ET AL Increases Stock Position in Paramount Global (NASDAQ:PARAA)

Gamco Investors INC. ET AL grew its holdings in shares of Paramount Global (NASDAQ:PARAA - Free Report) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,718,711 shares of the company's stock after purchasing an additional 25,444 shares during the period. Gamco Investors INC. ET AL owned about 0.41% of Paramount Global worth $60,627,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Paramount Global by 20.2% during the third quarter. State Street Corp now owns 49,366 shares of the company's stock worth $1,082,000 after purchasing an additional 8,287 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Paramount Global by 16.7% during the 3rd quarter. Geode Capital Management LLC now owns 247,015 shares of the company's stock worth $5,400,000 after buying an additional 35,305 shares during the last quarter. Guardian Investment Management acquired a new position in shares of Paramount Global in the 4th quarter valued at $963,000. Bank of New York Mellon Corp grew its position in shares of Paramount Global by 450.7% in the 4th 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, Mariner LLC grew its position 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 last quarter. 5.98% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Performance

PARAA traded down $0.20 on Friday, reaching $22.17. The company had a trading volume of 37,666 shares, compared to its average volume of 51,179. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 1 year low of $16.59 and a 1 year high of $26.34. The stock has a market capitalization of $14.79 billion, a PE ratio of -2.70 and a beta of 1.33. The stock has a 50-day moving average price of $22.67 and a 200-day moving average price of $22.49.

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

Paramount Global Announces Dividend

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

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.