GAMMA Investing LLC Acquires 22,244 Shares of Paramount Global (NASDAQ:PARAA)

GAMMA Investing LLC boosted its holdings in shares of Paramount Global (NASDAQ:PARAA) by 4,605.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,727 shares of the company’s stock after acquiring an additional 22,244 shares during the quarter. GAMMA Investing LLC’s holdings in Paramount Global were worth $517,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PARAA. Gamco Investors INC. ET AL lifted its position in shares of Paramount Global by 0.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,718,711 shares of the company’s stock worth $60,627,000 after purchasing an additional 25,444 shares during the period. Gabelli Funds LLC lifted its position in shares of Paramount Global by 1.4% in the 4th quarter. Gabelli Funds LLC now owns 1,833,583 shares of the company’s stock worth $40,889,000 after purchasing an additional 24,592 shares during the period. Geode Capital Management LLC lifted its position in shares of Paramount Global by 11.6% in the 4th quarter. Geode Capital Management LLC now owns 275,630 shares of the company’s stock worth $6,147,000 after purchasing an additional 28,615 shares during the period. Millennium Management LLC lifted its position in shares of Paramount Global by 41.2% in the 4th quarter. Millennium Management LLC now owns 230,283 shares of the company’s stock worth $5,135,000 after purchasing an additional 67,177 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Paramount Global by 1,152.0% in the 4th 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. 5.98% of the stock is owned by institutional investors.

Paramount Global Stock Down 0.4%

Shares of NASDAQ PARAA opened at $22.70 on Friday. The company has a market capitalization of $15.30 billion, a P/E ratio of -2.76 and a beta of 1.30. Paramount Global has a 52-week low of $16.59 and a 52-week high of $24.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.18 and a current ratio of 1.29. The company’s 50 day moving average price is $22.58 and its 200-day moving average price is $22.62.

Paramount Global (NASDAQ:PARAA) last issued its quarterly earnings results 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). The firm 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 4.80% and a negative net margin of 19.09%. Equities analysts forecast that Paramount Global will post 2.25 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.88%. Paramount Global’s 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.